dubai gold souk in 2024
- Author- Rose Mary
- Publish Date-
We all know how lavish and thrilling Dubai is. But underneath its luxury lies the traditional old Dubai, filled with cultural markets built in classic style, which gives us a sense of the city before it became so modern. If you travel to Dubai, you must visit the Dubai gold souk. This place attracts many tourists from all over the world as it should be experienced by every traveller out there.
Read this article till the end to learn about the Dubai gold market.
WHAT IS THE DUBAI GOLD SOUK?
This traditional market is situated at the heart of Dubai near the creek. Silver, gold, and other precious stones are sold here. Due to the variety of products and the reasonable prices, visitors prefer to visit this place a lot. Picking up a gift for your loved ones is never a bad idea. And here, you get the best gold gift items.
The market has over 300 retailers present in it. Some shops are as old as 40 years old, and some are recently opened. The Dubai gold souk is near the creek and the fish and vegetable market. It is situated at Sikka al Khali street.
The gold souk Dubai metro is the Al ras station. It is on the green line. You can reach here by walking for five minutes.
JEWELRY AND PRICES
You get to see the market price here displayed on a board. The price ranges from 24K, 22K, 18K, and 21K in AED currency per gram. The pieces are sold per the price mentioned on them and a gram basis. An additional charge for the artistry is also taken, which is reasonable.
Most of the stores in the market are independent. They open and close as per their choice in a day. The stores generally operate from 10 am to 10 pm. Some stores are closed from 1 pm to 4 pm.
The best time that you can choose to visit this place is between 10 am to11am. The heat is less, and there is plenty of time left for the shops to close. Also, the market is a little crowded during this hour, but it is less intense than in the evening.
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The gold souk Dubai prices are commendable. You will get the best market price here with a bit of haggling. This is why it has become so popular among tourists from all over the world. The prices depend on the market rate, which tends to fluctuate often. Most shops charge you as per the grams, while others accuse you depending upon the karats of the item. You can also find some fantastic deals on jewellery here.
This place needs to be by every tourist at least once in their lifetime. The gold souk marketplace is almost 100 years old and is the most bustling market in the entire souk area.
You can also get to socialize with the merchants here, who tell several stories about the history of the place to keep you engaged.
HOW TO BUY IT?
In case you are looking to shop from the gold souks in Dubai, you can take some advice on that:
NEVER ACCEPT THE FIRST PRICE
Just like stocks, gold prices also fluctuate every day. Hence it is essential to know the current market price of the same. When you see the market price of gold, you can haggle with the vendors and get a better price. This is the most critical factor you should consider while purchasing here.
Always make sure to haggle and never pay the first price that they say.
KNOW THE TYPES OF GOLD
Before you buy, you should do a little research on the types. The gold is sold based on grams and carats. The higher the karat, the more pure the gold is. This means that 24-karat gold is pure 100 per cent. The pure item is soft and is mixed with silver, zinc, nickel, or copper to make it hard.
The item also comes in different colours, which helps in differentiating it from the different kinds of alloys mixed with them.
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LEARN TO HAGGLE, A LOT.
You can haggle your heart out in this city. If you know how to, you can get the jewellery at a much lower price than the gold souk Dubai mall. Also, try to barter as you try to lower the cost, and learn to walk away if the vendor does not compromise with the price. The sellers expect the customers to haggle because, in this way, their prices buffer. This art is based on the MAKE and RATE.
- MAKE: this is the labour charge that is the cost of the item. The more beautiful and sophisticated the design, the more work charges it will cost you. But, this is where you can haggle the most, as most shops have different rates; you can try to lower them.
- RATE: You must check the gold rates presented outside. These are updated on a real-time basis and change every day. The shops here are pretty strict about the rates of the items and stick to them. This is mainly because the police closely monitor them. If some customer complains about any wrong undertaking, the shop will have to pay heavy penalties, as this city's rules are stringent.
EXPLORE DIFFERENT SHOPS
Before you make your decision, make sure to explore different options from all the other shops. This way, you will get more variety of gold jewellery you can choose from. This also provides different price ideas so you can go for the more affordable one.
The shops around the corners and nooks offer better prices, so make them your target when you visit this place.
- Stay out of the larger shops and instead look for the smaller ones. They are situated in the corners of the market. You will get a better price from there.
- If you want more traditional Arabian jewellery, you can head to the Al Romain. You will get to see a prominent display of a body suit that is made of gold there.
- Many Dubai gold souk facts are interesting, making this an A1 travel destination.
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The Dubai gold souk is the most unique as well as the most competitive market globally. Hence, visit this place if you plan to visit the fantastic city of Dubai.