Dubai: The Dubai Gold Souk is one of the most unique gold markets in the world with arguably some of the most competitive prices globally. You can bargain and negotiate with sellers, making it an exciting experience. Many shops can create custom pieces and also sell precious gems and stones.
What is the Gold Souk?
The Dubai Gold Souk is a traditional market in the heart of old Dubai by the creek. This market mainly sells gold, silver and precious stones. You’ll find the odd seller of handbags here and there, but this is the best place to buy gold in the UAE. The souk is home to over 300 retailers. Some have been there for over 40 years, while others have just set up shops a couple of years ago.
Location
Al Ras Deira. The souk is adjacent to the Dubai Fish and Vegetable Market and the Deira Corniche near Baniyas Square at Sikkat al-Khali Street.
Closest metro station
Al Ras Station on the Green Line (5 minute walk away)
Tip: It is highly recommended to take the metro or a taxi. Do not take your own car and try to park it somewhere nearby. A parking spot near the Gold Souk is rare to find.
Timings
Although most stores are independent and can open and close when they choose, most of the time, stores will operate from 10am to 10pm. Some stores are closed between 1pm to 4pm.
Tip: Best time to visit is mid-morning around 11am. It is still quite crowded, but less intense than in the evenings.
Why should you visit the Gold Souk?
The prices you will get at the Gold Souk are some of the most competitive in the world. What you will pay for your purchases depends on the daily gold rate, which tends to fluctuate.
Tip: Check out the daily gold rate here before heading down
Most places charge per gram and others per karat. If you want to get a great deal on jewellery, you’ll have a better chance of finding it here, than in any mall jewellery store. The Gold Souk needs to be seen at least once by everyone who is visiting or lives in Dubai. It has been around for almost 100 years and is the most bustling of the old souks. Merchants in the souk today tell us stories about how they were born and raised here, taking over from their fathers. There's something in every nook and cranny for everyone.
Interesting fact: The Gold Souk is home to the worlds’ heaviest ring, the Najmat Taiba or Star of Taiba. This gigantic ring is just 314g shy of 57kg in weight and is studded with 5.17 kg of Swarovski stones. Endorsed by the World Gold Council, the ring made by Taiba Gold and Jewellery of Saudi Arabia also has a certificate from the Guinness Book of Records certifying its ‘weight in gold’. It is worth approximately Dh2.2million.
Tip: Stay out of the larger more main stream jewellery shops and look for the smaller ones in corners or little alleyways, you'll most likely get the best deals there.
Tip: To get the most traditional Arab style jewellery, head down to the Al Romaizan Gold and Jewellery. It’s difficult to miss, since it hosts the famous display of a body suit made of gold.
Tip: Make sure you also bargain and haggle with the shop owners to get the best possible deal.
