5 Tips for Buying Gold at Deira Gold Souk Dubai
When you visit Dubai, one of the best ways of seeing how Dubai was once a small fishing village and before all the amazing infrastructure began – is by heading down to the Gold Souk Dubai by Dubai Creek.
Here is the entrance from the bus stop that allows you to walk through the middle of the gold souk Dubai and marvel at all the delights on offer.
We walked through the souk and were amazed at the prices of the different carats that are on offer and the sheer beauty. This is an opportunity to save money when buying gold and seeing new pieces, that will not be available in your home country.
- About Gold Souk Dubai
- How to Get There
- Opening Times of Gold Souk Dubai
- World’s Largest Gold Ring at Gold Souk Dubai
- 5 Tips to Follow While Buying Gold at the Gold Souk Dubai
About Gold Souk Dubai
This Gold Souk in Dubai is renowned for selling equities such as gold and silver at a cut-price because it is governed by Dubai and their police force to entice people from all over the world to visit.
The Gold Souk Dubai is one of the most popular tourist destinations of the emirate. After all, this city is known for its gold trade. But even if you’re not planning to buy gold, the Deira Gold Souk is a must-see. Gold is lined up from aisle to aisle, who wouldn’t get attracted just for the fun of it.
The Dubai Gold Souk is known for being the largest gold market in the world as it houses around 250 gold retail shops. With 18 karat gold pieces, 22 karat pieces of jewellery, diamond ornaments, and pearls. You can find plenty of jewellery and accessories being sold in this area.
How to Get There
To get there via public transport, you can take the Dubai Metro train and stop at Al Ras Metro Station (Green Line). You can exit and just ask around about the gold market. You can’t miss it as this is a famous tourist spot.
Another way, to head to the Souk is by catching the Big Bus Company. The bus has a few routes and the RED LINE will take you to a stop that is very close to the Gold and Spice Souk.
Opening Times of Gold Souk Dubai
The Gold Souk Dubai is open 7 days a week. Opening hours for the Gold Souk Dubai are 10 am to 10 pm Saturday to Thursday (but many stores close between 1 pm and 4 pm). Timings on Fridays are 4 pm to 10 pm due to it being classed as a day of rest for the earlier hours.
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World’s Largest Gold Ring at Gold Souk Dubai
A ‘World Beater Fun fact’ is that the world’s largest and heaviest ring that has won a Guinness world record award sits at the window of a shop in the Souk. This magnificent ring is mounted with 5.1 kg of precious stones and is set on a 64 kg 21-carat gold ring. VISIT!
We have explored the Gold Souk Dubai a few times with family and friends that have travelled to Dubai on holiday and a few have bought items that were a fraction of the price in the UK and Singapore.
5 Tips to Follow While Buying Gold at the Gold Souk Dubai
There are tons and tons of gold in the souk, so if you fancy buying these items, you can sure find some deals in this location.
There are stands available that provide information on the value of Gold at that moment. These stands will guide you and help you in understanding the price of gold versus the gold you’re going to buy. This is the standard value that every shop follows and has to abide by for legalities.
However, if you simply want to browse, you may also do so. Just be prepared of the vendors from each shop persuading you to purchase their merchandise. But don’t worry, they don’t sell hard, they are used to plenty of tourists flocking every day.
If you are planning to buy gold in Dubai you should follow these tips as it will make your process of buying Gold at a good price in Dubai easy:
1. Before buying gold know the market price
Yes, the market price of gold fluctuates on a daily basis like a stock. So it is very necessary that you are aware of the latest price in the market before buying any gold as it will give you an option to bargain with the vendor. You can check out the rate of gold in Dubai here: Gold Rate Online
2. Decide which gold you want to buy
As you must be knowing that gold is sold on the basis of its quality and accordingly the price is fixed. If you want to go for pure gold go for 24 karats and buy it in the form of a coin rather than jewellery as they are softer as compared to 2 Karat gold.
3. Choose jewellery and designs
Decide which types of jewellery you want to buy and depending on it select the designs. There are different types of gold products available in the souk such as rings, chains, bangles, anklets, headband, and more.
Always try to get latest pieces of gold jewellery in terms of designs as they hold edge as compared to old designs.
4. Be ready to bargain and pay in cash
If you want to save money on gold purchase make sure that you bargain before fixing the deal.
Yes, you can bargain with the vendor on the making charges which they fixed on each jewellery product. To know the making charges visit other gold shops so that you will get an idea like how much other vendors are asking for making charges on jewellery items.
You can’t bargain on gold price as they are monitored by the Dubai Police, so every shop keeps their prices the same on the gold.
If you can pay in cash then I will suggest you go for it as it can save you a good amount of money and gives you a better chance of bargain with shop owners as everyone prefers cash over credit card payment.
5. Visit more shops
Visit as much shops you can before buying gold as it will give you more clarity on:
- gold prices
- making charges
- making charges
- more option to choose after going around lots of shops
- don’t be afraid to ask your questions such as is it fake or real gold?
Have questions or enjoyed the blog posts? Either way, I’d like to hear from you. So go ahead and leave a comment below.