Dubai is called by many names like the city of dreams or city of skyscrapers yet she is known as the City of Gold and there’s a good reason for it. Yes, the world famous Dubai Gold Souk is situated here.
The Dubai Gold Souk is one of the largest retailers of gold worldwide, with locals and tourists thronging the market to get gold in every form. The Arabs consider souk as a representation of their culture and feel that it is symbolic of the grandeur of Dubai.
Location & History of Dubai Gold Souk
The Gold Souk is found within the heart of the city’s commercial district, Deira. It is situated towards the north of the Dubai fish and vegetable markets and can be accessed by both road and water. The Souk has grown by leaps and bounds since its inception within the 1900s. From just a few traders, it recorded its first-ever notable growth during the 1940s and 1950s, when Dubai’s free trade policy paved the way for traders from India and Iran.
Once you enter the Souk, you’ll steer through a labyrinth of covered walkways that are home to over 300 gold retail stores that mostly trade jewelry. Window after window is hung with racks of gold ornaments that are a feast for the eyes. Hundreds of vendors make sure that you’re never out of choices, with unique pieces, gemstones with attractive Arabic designs that will leave you amazed.
Gold Jewelry Collections in Dubai Gold Souk
The Dubai Gold Souk offers a mind-blowing collection of 18, 21, 22 and 24-carat gold jewelry like earrings, rings, necklaces, bangles, bracelets and pendants. The Souk is even more dazzling by the cacophony, colours and chaos it makes in the atmosphere.
If your eyes ever get uninterested in the yellow glitter and shimmer of gold, you’ll find white and pink gold also. If the facts are to be believed, there is a minimum of 10 tonnes of gold present within the Souk at any given time. Other precious metals like platinum, silver and stones like diamonds, rubies, emeralds, etc. are also traded in Dubai Gold Souk.
Gold is obtainable at competitive prices that are fixed at the beginning of the day, based on the weight and therefore the daily gold rate. The weight element of the gold rate is non-negotiable but the workmanship is negotiable. At the Dubai Gold Souk, over price purchase is an accepted tradition of shopping. Strict government regulations make sure that the gold meets international quality standards, so you are assured that your purchases are genuine.
If you’re planning a bulk purchase you can use a Debit or Credit card, but paying by cash will get you better discounts. People consider the late afternoon as the best time to visit the Gold Souk when the weather is normally cooler. Thursday and Friday were considered as the busiest days.
This historic Gold Souk in Dubai is worth a visit, even if you don’t have any plan to purchase gold. But the temptation towards gold is tough to resist. All that glitters is definitely gold for sure at the Dubai Gold Souk.