It is nearly impossible for anyone who visits Dubai to miss the gold souk, in Deira. This is one of the most fascinating attraction this emirate has to offer. The market lives up to the city’s reputation for gold trade. If you look around in gold souk you shall see the countless merchants and retailers with their shops filled with shining gold ornaments around you. It is normal for the first-timers to get confused from where to start but in this souk, no direction is the wrong direction. It won’t matter whether you start your sightseeing tour from which end, In the end, you shall marvel at the magnificence of gold souk.
Everyone likes gold, and this attraction is literally the paradise for the gold lovers that is why it is not only the most famous but also one of the most visited attractions of Dubai. There are hundreds of gold merchants and retailers in this market who are always ready to carter to the luxurious desires of their customers. They offer ornaments of almost every material from gold to precious stones and metals. It’s a fascinating place that should be on every tourist’s itinerary, even those with no intention of making a purchase. The market price of gold is displayed on signs around the souk and in individual stores. Prices are listed for 24K, 22K, 21K, and 18K in AED per gram. The current gold rates in Dubai can be found here. Pieces are sold by weight according to the current market price with an additional charge for workmanship. Just like the stock market the prices of gold vary on a daily basis.
That’s is why it is always profitable and beneficial if you head to the souk after carrying out some research about the price trend. The knowledge of price trend is the second most important thing after the knowledge of gold if you wish to strike a good deal and that too for real gold in Deira gold souk. It will be very much easier for you to haggle and bargain with the shopkeepers if you have the price trend in your mind. In any case in this field, the research always pays off. Gold is sold by Karat and weight.
The higher the Karat, the purer than gold is. In the gold market, the purest form of gold is sold in 24karat. The pure gold is found in the relatively soft form so it is doped with metals like nickel, silver, copper, etc. Different colors can be added in gold by changing the amounts of mixing percentage of different alloys. Always barter on the price of anything you wish to purchase. Sellers will initially set a high price. The vendors always charge much or less just for the workmanship as the price of gold is non-negotiable worldwide. Reductions of as high as 30 percent are possible. Similar items can be found in many of the stores so take your time to shop around. Credit cards are accepted, but better discounts can usually be obtained if you pay in cash. To be on the safe side ensure you purchase from the stores.
Strict government regulations ensure items on sale are accurately described. The street vendors don’t adhere to the rules and the jewelry they sell will often (if not always) fake. For all newcomers to Dubai, the gold souk in Deira is one of the most famous attractions. It doesn’t matter that if you wish to buy gold or not nonetheless this is the perfect place to see what the lively city of Dubai has to offer. The souk is located in Deira, near Ras Al metro station. It remains all 7 days of the week. The gold souk remains open for 12 hours, from 10 am-10 pm from Saturdays to Thursday. The working timings for Friday are 4 pm – 10 pm.