Dubai is a shopper’s paradise in a true sense. The city is home to many clothing and jewellery brands that fascinate tourists with stunning styles. Your Dubai travel experience is incomplete without a traditional Dubai gold shop market visit. Deira Gold Souk offers a variety of designs at an unbeatable price. This article will take you on a virtual tour of the city’s most sought-after shopping destination.
Deira Gold Souk
The largest gold market in the world, Deira Gold Souk, is flooded with tourists every day. Even if you are not a crazy shopper, the Dubai gold shop market is a must-visit for a fun experience. The exquisite craftsmanship of jewellers at the Dubai Gold shop market is beyond your imagination.
Long lines of gold retail stalls showcase authentic and precious gold and gemstones that will make you purchase gold for you and your dear ones. So, let’s explore what this souk has got for you.
Dubai Gold Souk Opening Hours:
The Dubai gold shop market is open for visitors from 10:00 am to 10:00 pm. However, the market is open from 4:00 pm to 10:00 pm on Fridays. Before you plan for the visit, keep in mind that evenings at the market are generally more crowded than mornings.
Shopping at the Dubai Gold Souk:
Deira Gold souk has a wide variety of dazzling 18k to 24k gold jewellery, from everyday jewellery collections to heavy gold ornaments for special occasions. With more than 350 gold shops, Deira Gold Souk is the largest gold market in the world.
Dubai Gold Souk offers a variety of designs from all over the globe. Some of the jewellers have been in the business for many decades. The market has set high standards as all the stores in Deira are regulated by the Dubai Government for the authenticity and purity of gold products. The glittery shops in the market showcase various precious stone products made from rubies, diamonds, and emeralds.
Malabar Gold and Diamonds, Bafleh Jewellery, and Joyalukkas are popular jewellery brands that have their stores in Deira Souk and many small retailers.
Things to consider before Shopping at the Deira gold Souk:
1. Check the price online: Before purchasing gold from the Dubai gold market, check the gold price online. The Dubai gold souk price varies as per the international gold market price. Online price search will give you an idea of the latest trends in the gold price, and you can use your knowledge to secure a good deal at a lower price.
2. Learn about gold karat: Gold items are sold as per the weight and Karat. Higher Karat represents the purest form of gold. While 18k and 22k gold is more popular, 24K gold has its charm. Since the pure form of gold is soft, it is mixed with other metals for a perfect finish.
3. Use your barter skills: Unlike other markets, this is a great place to haggle. While the gold rate is fixed, making charges on the jewellery can be negotiated. Hence, gold shop owners expect you to haggle for your desired gold item.
4. Explore the market: Do not end your search at the first shop. There are more than 300 shops in the market offering excellent designs on gold and precious gemstones. Take enough time to explore several shops before selecting your final piece of jewellery.
5. Payment options: While most sellers accept cash and credit cards, a cash payment will give you more power to barter on your favourite set of bangles or a designer necklace. However, if you are not the one who carries tons of cash in your pocket, then use a credit card.
Gold Prices at Dubai Gold Souk:
The market price for gold is displayed in individual stores and on signs around the souk. The prices are listed for 24K, 22K, 21K, and 18K in AED per gram.
Gold products are sold by weight according to the current market price. Once you select a product, the trader will demand a high price for the products initially. But, savvy buyers always negotiate for the best price possible. Bargains are only on the making charges, so you can get significant reductions if you are good at it.
Take enough time to explore other shops, as you might find similar products in different shops at a lower price. For all gold souk Dubai products, a VAT of 5 percent is levied throughout the city. However, tourists can claim 85 percent of VAT refund at airports under the Tax Refunds for Tourist Scheme. Ensure that you purchase goods from a recognized retailer and present a sales receipt with a tax refund tag.
Many of these Dubai Gold Souk stores show their online presence with authentic and traditional jewellery. Taiba, Kanz, Malabar Gold and diamonds, Damas, and Joyalukkas are some of the best Dubai Jewellery shops online.
Dubai Gold Souk Location:
The souk is located in Deira, an essential part of old Dubai.
If you are visiting the souk by metro, then Al Ras is the nearest metro station, and it is 10 minutes from the Deira Gold Souk. Baniyas Square station is also close to the gold market.
If you prefer to travel by RTA bus, C07, C09, and C28 will lead you to your destination.
You can also use taxi, uber, or careem services to commute to the Deira Gold Souk conveniently.
Why should I purchase gold from the Deira gold souk?
Gold designs in the Dubai market cater to the expectations of the international customer base. The retailer stocks a variety of designs to complement ethnic and traditional wear. Lightweight Turkish, Singaporean, and Malaysian earrings and necklace designs are increasingly popular, and antique Indian and Arabic designs are in demand for festive occasions.
The strict regulations on gold trading provide transparency and protection to the individual buyer. The Dubai gold souk market trades pure gold to the customers worldwide.
If you are an individual who is fascinated by the stunning pieces of yellow metal jewellery, then Deira souk is worth visiting for an exceptional shopping experience. Adding a modern touch to your luxurious shopping, Dubai opened Gold Souk Extension in April 2022, spanning over 1 million square feet. GSE provides a tribute to Dubai’s trade legacy, providing an enriched experience to visitors from all around the world.