Best Gold Souk in Dubai
Gold can be bought online. It’s almost an ostentatious Amazon purchase but check the price of this uncirculated Dragon Series Gold Bar.
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If you’re taking a trip to Dubai anytime soon, you won’t want to miss out on the jewelry that you can find in the City of Gold. Dubai’s fashion culture is as popular worldwide as the scenes we see in Paris and New York. However, in Dubai, the price of gold and jewelry is hard to rival. If you’re looking for the best gold souk in Dubai, then you’ve come to the right place!
What is the best gold Souk in Dubai? The best gold souk in Dubai is the Dubai Gold Souk. However, there are still plenty of other excellent stores you can visit to check on some gold prices as you travel through Dubai.
Since there isn’t much information on the Internet about the best gold souk in Dubai, we created this article to help you out. If you’re looking to purchase some gold in Dubai, we’ll provide you with plenty of information about the Dubai Gold Souk. Then, we’ll discuss some other jewelry stores that are worth visiting and give you some tips about shopping for gold in Dubai.
The Best Gold Souk in Dubai: The Dubai Gold Souk
Dubai is famous for its sparking towers and human-built wonders, but by tradition, it’s roots are found within Arabian history. Across the globe, there’s probably a no better place to gold shop than the Dubai Gold Souk. The Dubai Gold Souk is located in the Deira business district and is well-known as the best place in the world where you can purchase gold. At the Dubai Gold Souk, you’ll find traditional Arabic jewelry designs and some of the most famous retailers that sell the best gold and gems on the planet.
Within the Dubai Gold Souk, many of the jewelry styles are overwhelmingly Arabic and also feature Indian culture and some European designs, too. Many locals enjoy Damas and Joy Alukkas gold and jewelry found inside the Dubai Gold Souk because their designs are so innovative. You’ll also find Kalotie Jewelry inside of the Dubai Souk, which is one of the most massive sellers of gold in the Middle East.
Inside the Dubai Gold Souk
Once you walk inside the Dubai Gold Souk, you’ll notice that the streets feature some small shops, and each shop window has tons of beautiful, yellow gold on display. For the locals in Dubai, the most popular type of gold to purchase is 22-carat gold. The yellow on a 22-carat gold item looks much more profound than what we typically see in the United States. However, Americans aren’t the major buyers in the Dubai market.
As would be expected, the Dubai Gold Souk prefers to cater to the people that buy gold often from them, which are their patrons in Asia as well as India. It’s also common for families from India to go to Dubai and buy quite a bit of gold jewelry to give as dowries when their daughters get married.
However, the Dubai Gold Souk still caters to people that come from all over the world, where local currencies don’t have much value. You’ll find small gold bullion bars in all of the gold souk shops in Dubai. That’s because gold bars are a far more stable way to hold onto value than our traditional banking systems.
Pricing in the Dubai Gold Souk
Once you are inside the Dubai Gold Souk, you’ll see two prices posted on each item. The first price you’ll see displayed is the current market’s value for gold based on that gold’s weight. That price will be the same for all the vendors that day because the price of gold is measured daily. The second price you’ll see on each item is the negotiated price based on the item’s craftmanship. You won’t be able to haggle on the amount of gold, but you can haggle on the craftmanship price.
Also, if you don’t like the deep yellow 22-carat gold that you are likely to find inside the Dubai Gold Souk, keep in mind there are plenty of other types of jewelry that you can purchase once inside. The Dubai Gold Souk has different items, like 18-carat gold, which is more common for Americans and Europeans. However, gold isn’t the only thing the gold Souk sells. You can purchase a bevy of precious metals and precious gems here as well.
Should I Visit the Dubai Gold Souk?
One of the reasons why we’d encourage you to visit the Dubai Gold Souk is because their price rates are the best you’ll find across the world. What you’ll pay for a gold piece can fluctuate daily, however, simply because the daily gold rate price varies. If you need to know where to go to check on the regular cost of gold, you can use this website.
Several of the gold souks in Dubai charge per gram and some others charge per karat. If you are looking for an excellent deal on something unusual, you’ll probably have a better chance of finding it at the Dubai Gold Souk than you would look for it anywhere else. So, if you’re trying to invest in gold or save a bit of money buying somebody a lovely gift, then this is the place to visit.
Everybody that visits or lives near Dubai tends to stop by the Dubai Gold Souk at least once in their lives. The building has been present in Dubai for nearly a century, and this is the busiest of all of the souks in Dubai. Many of the merchants that work in the Dubai Gold Souk today were born and raised in Dubai and took over their businesses from their fathers. So, there’s a fascinating familial and cultural tradition running through this place as well.
Also, if you stop by the Dubai Gold Souk, you’ll be able to see the world’s most massive ring. That ring is called the Najmat Taiba, or Star of Taiba, which is nearly 57kg in weight and features 5.17 kg of Swarovski stones. It also has a Guinness Book of Records certificate that verifies its weight in gold. The ring is worth Dh2.2 million.
Are Products High-Quality?
If you’re worried about the quality of the products at the Dubai Gold Souk, we understand. Luckily, since the Dubai Gold Souk includes some world-famous jewelers’ names, you’ll be getting some of the best gold around. Every product sold at the Dubai Gold Souk is regulated by the Government of UAE, meaning the government guarantees the authenticity and purity of the gold products this shop sells.
When is it Open?
The Dubai Gold Souk opens at 10 AM and closes at 10 PM. The one exception is on Fridays when the market opens at 4 PM, which follows afternoon prayers. Also, mornings are typically much less crowded than evenings when you are visiting this shop.
What is the Location?
You’ll find the Dubai Gold Souk in Al Ras Deira, which is next to the Dubai Fish and Vegetable Market. The address is 54 Al Khor Street, Deira, Dubai.
It’s Not for Everyone
Most people that venture into the Dubai Gold Souk feel it’s the adventure of a lifetime. Still, going to the Dubai Souk might not be for everybody. If you like looking for jewelry in a place that has things like air-conditioning, leisure, and restaurants around it, then you’d probably be better off visiting a mall in the UAE, or some of the other stores we’ll provide below for you on our list. Still, if you’re serious about buying gold, then the Dubai Gold Souk has the best selections at the most affordable pricing.
Remember, shopping for gold doesn’t mean you only need to visit the Dubai Gold Souk. You can also visit the Mall of the Emirates, which is one of the best shopping malls in Dubai. You’ll find several name brands in gold and jewelry and some excellent pieces in that area as well.
So, what can you do if the Dubai Gold Souk isn’t for you? Don’t worry. We’ve got a list of a few other great shops you can visit below. When you are trying to save money on gold, remember to stay away from the mainstream types of jewelry stores and search for smaller ones since the smaller stores typically haggle and offer the best deals. When you start venturing into some of these other shops, you’ll always want to remember to haggle so that you can get the best price.
Other Recommended Gold Souks
If you feel that the Dubai Gold Souk isn’t for you, or you want to know more about some of the other gold souks you can explore while in Dubai, then we’ve got that information for you. Below we’ll cover some of our other recommended gold souks for those of you who want to explore some of the other gold shops in Dubai.
#1 Al Lial
Al Liali offers both 18-carat and 24-carat gold jewelry options that feature things like diamonds, pearls, and other precious stones. At this shop, you’ll also be able to customize pieces, which they’ll then craft for you at their manufacturing facility. So, if you want an extraordinary and unique shiny gift, this is a great place to go. Al Liali also offers several collections that can fit just about any budget, so even if you don’t have a lot of money, you can still find a treasure here.
This store also offers an “Easy Payment Plan” so you can purchase your jewelry and pay for it in a few affordable installments. This company features a chain of up-market boutiques as well as jewelry stores and was founded in June 1999 by Raed Ahmad Baker and Anuraag Sinha. Since its founding, the store has grown quite a bit. Liali now has twenty different stores in some of the hottest spots in the UAE.
Al Liali specializes in several gems like diamonds and pearls, as well as customized handcrafted pieces. The company continually strives to introduce innovative pieces, so it stays in line with the current jewelry trends. Liali nowadays represents fine jewelry and personalized service that is all about trust. This company has done a great job of establishing a fantastic reputation over the past several years.
You’ll find the Al Liali store on the ground level of the Mall of the Emirates in Dubai. Their phone number is +971 4 341 4080. Their hours are from 10 AM to 10 PM all seven days of the week.
#2 Damas Les Exclusive
Damas Les Exclusive is a small boutique in the mall that offers some of the unique luxury jewelry collections from Damas. These include selections from manufacturers like Harmony, Farasha, Al Manthourah and Diamond Leela. The designs you’ll find in this store are very glamorous and flashy. So, if you’re the type of person that has an “I’ve got it, I want to flaunt it,” attitude, then this might be the place for you.
The collections you’ll find in Damas include some of the best watches you can see across the globe, too. You’ll find watches manufactured by Chronoswiss, Ernest Borel, Parmigiana, and Louis Moinet here. Damas Les Exclusive can be located on level one of the Mall of Emirates in Dubai. Their phone number is +971 4 3410633. They open at 10 AM and close at 10 PM all seven days of the week.
It should come as no surprise that Cartier is on this list, too. Cartier is a legend among jewelry makers, and they have plenty of elegant designs as well as subtle designs depending on what you like. If you want simple pieces, you can look at the Diamants Legers collection. That collection offers several handpicked diamonds that are put in pretty gold chains.
Cartier was first created in 1847 by Louis Francois Cartier, and since its founding, the family-run business has grown into a worldwide jeweler with one of the most exceptional reputations around. For many decades, Cartier has created lovely pieces that are sophisticated and attractive, attracting customers from around the world to their products.
Some of the most famous clientele of Cartier has included Indian princes and members of the royal family from across the gold. Even King Edward VII of England once called Cartier the “King of Jewelers and Jeweler of Kings.” With that kind of history, it should come as no surprise that this store is worth visiting.
You’ll find the Cartier shop on the first level of the Mall of Emirates in Dubai. Their phone number is 800 227 8437. They are open from 10 AM to 10 PM all seven days of the week.
#4 Dhamani Jewels
Dhamnai Jewels is a great place to go for those of you that want some wholesale jewelry. Dhamani has long been wholesaling their loose stones to jewelers across the globe, but they also make customizable pieces for their clients. Inside their store, you’ll find several precious and semi-precious stones, including diamonds that are rare and colored like pink, blue, brown, and yellow.
If you are interested in colorful diamonds, then take a look at Dhamani’s DPINK collection, which has diamonds in hues of pink in three different lines, Dubai Cut, Butterflies, and Princess. You can find the Dhamani store on level one of the Mall of Emirates in Dubai. Their phone number is +971 4 341 3050. They are open from 10 AM to 10 PM Sunday until Wednesday, and 10 AM until 12 AM Thursday to Saturday.
#5 Pure Gold
If you’re a fan of Italian craftsmanship when it comes to jewelry, then you might want to consider visiting the Pure Gold Store. While Pure Gold is a Middle Eastern brand name in jewelry, they are known to cater to European and Asian customers. Also, Pure Gold works with expert Italian jewelry designers to create their beautiful pieces. One of their best collections is the spring collection, which offers pieces that are inspired by nature, often with butterflies.
Pure Gold first opened in 1989 when its founder Firoz Merchant created the first Pure Gold Store. Since then, the brand has dedicated itself to innovation, customer satisfaction, and a focus on excellence. The merchant was able to expand and grow his stores into a chain, and since then, his son has continued the legacy of this store.
Pure gold has been around for about two decades, and their legacy has grown and developed as the years have passed. Now, they own over 150 stores across twenty countries, which include the Middle East and Asia as well. Today, Pure Gold is a leading jeweler in the Middle East because they have two factories in India and one in China and employ thousands of artisans and professionals.
Pure Gold was also the first and only jeweler to receive the World Diamond Mark, an award that demonstrates the unique quality of their pieces. If you decide you want to stop by Pure Gold, you can find it in level one of the Mall of the Emirates in Dubai. Their phone number is +971 4 394 8841. They are open from 10 AM to 10 PM seven days a week.
#6 Tiffany and Co.
Another world-famous manufacturer of jewelry, nobody should be amazed to see Tiffany and Co. on this list. Tiffany is well-known for creating a feeling of temptation because of the beauty of their pieces. They are famous for their blue boxes tied off with a white satin ribbon. As a jewelry manufacturer, Tiffany is renowned for its “American” looks, which are far more simplistic than the usual opulent style of most Middle Easter jewelry.
This unique company with a rich history was founded by Charles Lewis Tiffany, who loved to find rare and unusual stones to include in his jewelry collections. Because of Charles Lewis Tiffany’s love for exploration and innovation, he wound up becoming famous for diamonds and colored stones that helped bolster Tiffany’s world-famous reputation.
Before the mid-19th century, colored gemstones were not utilized often in American pieces. However, everything changed in 1876 when a gemologist named Dr. George Frederick Kunz sold a tourmaline to Charles Lewis Tiffany. After that, Kuntz began working with Tiffany to create some of the most beautiful gemstones the world has ever seen.
If you want to stop by Tiffany and Co., go to level one of the Mall of Emirates in Dubai. Their phone number is +971 4 341 0655. They are open from 10 AM to 10 PM from Saturday to Tuesday. From Wednesday to Friday, they are available from 10 AM to 12 AM.
Now that we’ve covered the best gold souk in Dubai and we’ve also provided you with a few other excellent store options, we’ll include some information you should know before you go into a gold souk in Dubai and you purchase any gold or jewelry. To help you make the best decisions and get the best price, we’ll cover the reasons why you should buy gold in Dubai.
Why Buy Gold at a Gold Souk in Dubai?
If you’re wondering why you should consider purchasing gold from a gold souk in Dubai, we’ve got a list of reasons for you. Buying gold in Dubai is very popular, mainly because of the reasons we’ve listed below.
#1 Gold in Dubai is Pure and High-Quality
Nobody can deny the purity and quality of the gold and jewelry you purchase in Dubai. You really won’t need to worry about anything if you are buying items from a gold souk because the government regulates everything that the jewelers sell. That way, the government keeps its eye on the authenticity of the gold that is sold in the Dubai stores.
Jewelry stores are also required to carry a gold purity hallmark on the pieces they sell, and they have to provide that to their customers when their customers ask to see it. The gold purity hallmark is so essential because it’s a certification that offers specific details like the carats or the weight of the gold, the cost of labor, and any other stones you’ll find in the jewelry. That certification helps ensure that all pieces are authenticated by the government and can be sold anywhere around the globe.
#2 Dubai Gold is Less Expensive
Since Dubai is exempt from taxes, it’s an attractive place for many to live, and it’s also a popular place to visit and buy gold. Because you won’t have to pay taxes on your gold, the prices for gold in Dubai are less than anywhere else in the world. The Value Added Tax (VAT) does mean there is a 5% tax on any item purchased, but even with that, buying gold in Dubai is still cheaper than it is everyplace else in the world.
Right now, the VAT is the only tax you’ll have to pay on any Dubai gold purchase. Other countries, like India, for instance, include the VAT and several other taxes. However, that’s not true of Dubai.
#3 You’ll See a Huge Selection
Many people feel that Dubai is a paradise for shoppers. You can purchase lovely clothes, cheap electronics, and affordable gold in Dubai. If you want to buy gold in Dubai, you’ll have plenty of shops to visit with extensive selections. Remember, the Dubai Gold Souk offers the broadest range of any of the jewelers in Dubai. However, if you walk into any of these stores, you’ll get more options than you would in a typical American store.
#4 Dubai Gold Reflects Market Rates
Another reason why many people enjoy buying gold in Dubai is that gold prices reflect international market rates. So, there is plenty of uniformity in gold prices if you visit different stores in the city. Since gold prices fluctuate much like prices on the stock market do, you’ll be able to get a better deal when prices are falling and get your gold at a low rate. Remember, you should always check the rate of gold before you walk into any gold souk.
#5 You Can Bargain in Dubai
Another reason why people enjoy buying gold in Dubai is the fact that you can negotiate on the prices as long as you focus on the charges that apply for the craftsmanship of the piece. Bargaining will depend on the type of piece you want to purchase, and the store that you are visiting when you are trying to buy that piece.
It’s more challenging to bargain and haggle at the jewelry stores in the mall, but that isn’t true of the Dubai Gold Souk. You’ll be able to haggle quite a bit at the Dubai Gold Souk.
Now that you know where to go to buy gold in Dubai, and all about the best gold souk in Dubai, the Dubai Gold Souk, you should know just about everything you’ll need to know before you purchase gold in Dubai. Once you arrive in Dubai, you’ll notice immediately how much the cite resembles its nickname, the City of Gold. So, don’t forget to get some fantastic deals on gold before you leave!