Where to Buy Gold In The Dubai Mall
Dubai, known for its opulence and luxury, has a thriving gold market. People from many different countries visit the destination for shopping experiences, including the purchase of gold and gold products.
Often called the City of Gold, it is common knowledge that Dubai is an excellent place to buy gold. From boutique jewelry stores to traditional souks, there is no shortage of places selling gold. If you are in the market for this unique metal, you may be headed to Dubai Mall to make some purchases.
So, where do you buy gold in the Dubai Mall? There are many options for purchasing gold in the Dubai Mall, including several high-end jewelry stores. Here are some of the best locations:
- Atasay Jewellery
- Dinh Vanh
- Jawhara Jewellery
- Lakrids by Bulow
- Liali Jewellery L.L.C.
- Repossi
- Sahar Jewellery
- Yahya Barakat Jewellery
- Young Line International Jewellery
The rest of this article will answer the following questions so that all shoppers are prepared for a successful trip to the Dubai Mall:
- What types of gold are available in the Dubai Mall?
- Where to buy gold in the Dubai Mall
- What’s the difference between shopping for gold at the Dubai Mall or a souk?
- Can tourists buy gold in the Dubai Mall?
- Things to remember when shopping for gold in the Dubai Mall
What types of gold are available in the Dubai Mall?
Gold is typically purchased in two forms: jewelry or bar. The Dubai Mall offers shoppers the opportunity to purchase both of these in one location.
Where to buy gold in the Dubai Mall?
Where you go to buy gold in the Dubai Mall will depend on whether you are buying gold jewelry or gold bars. While the Dubai Mall does sell both, the two products are available in separate areas.
Gold jewelry
The Dubai Mall has a range of jewelry stores where you can purchase gold pieces with or without authentic jewels.
Gold bars
You can purchase gold bars from automated machines stationed at the Dubai Mall. These machines are called ‘Gold to Go,’ and the prices are updated regularly throughout the day to reflect the current market rate.
The gold bars can be purchased using cash or credit card, making it an easy way for tourists to invest. Additionally, the Gold to Go machines allow purchasers to select the hallmark that they would like engraved on their bar.
What’s the difference between shopping for gold at the Dubai Mall or at a souk?
In Dubai, shopping for gold can be done in several different places.
Traditionally all trading was done in ‘souks,’ which is the name for Arab marketplaces. Today, it is possible to go shopping at souks or go shopping malls. While it is possible to get high-quality gold from either of these places, there are a couple of things to keep in mind if you are going gold shopping in Dubai.
Malls and souks, in particular, the Deira Gold Souk, both offer an extensive range of gold products. The Dubai Mall, and malls in general, tend to offer a more westernized experience, with air-conditioned shopping centers and high-end jewelry stores. Souks provide a more authentic gold shopping experience, and you will become a part of the chaotic crowds as you source your gold.
It is commonly stated that prices in Dubai Mall are a little bit higher than at Deira Gold Souk, although haggling is required wherever you shop. Therefore, the price you pay will depend on your ability to negotiate and walk away from a purchase if necessary.
Can tourists buy gold in the Dubai Mall?
Tourists can buy gold in the Dubai Mall, and it’s a popular place to do so. If you are taking the gold out of the country, there are a few restrictions and regulations you will need to be aware of.
10kg customs limit
Firstly, each individual is allowed to take up to 10 kilograms of gold through customs. However, there is a significant cost attached to gold over the weight of 1 kilogram, so many people stick to this amount. This may change for tourists taking gold back to UK.
Proof of purchase
Secondly, you must have proof of purchase and any other appropriate paperwork available as you pass through customs. You must declare gold, and you will likely be asked to show this documentation.
Convertible currency requirement
Finally, all customs fees will need to be paid in convertible foreign currency. The fee currently sits at 36.05% for any gold over 1 kilogram, so make sure to keep this in mind when making your purchases. Also each country like the USA have different limits in how much gold a tourist can take out of Dubai.
Things to remember when shopping for gold in the Dubai Mall
Tourists looking to do some gold shopping in Dubai should go prepared. Make sure that you have done your research so you can purchase authentic products at a reasonable price.
Here are some essential gold-buying tips:
Ensure you know different types of gold
The purity of gold is measured in karats. The higher the karat, the purer the gold. For instance, the purest type of gold you can get is 24 karats. The price of gold will depend on weight and karat, so you must understand the difference between different gold qualities.
Know the current market price
To avoid getting overcharged, make sure you look up the current rate of gold before beginning your shopping. This price can change daily (sometimes more than once a day), so you need to keep an eye on it. The Dubai Retail Gold Rate is an excellent place to monitor prices.
Learn the art of haggling
All gold in Dubai is purchased through haggling. Depending on your country of origin, this may be a foreign concept.
Tourists should remember never to take the first offer. Retailers will have a marked-up price on gold because they are expecting negotiation. Start low and meet somewhere in the middle to get a fair deal for both parties.
Be prepared to walk away from a deal if it is too expensive. In many instances, the shopkeeper will chase after you as they will be keen for your business.
It is also a good idea to explore different places within the mall before making your final decision. That way, you know what gold products are available and how much things are worth in various stores.
Summary
To recap, here are the key points you should take away from this post:
- There are many places to buy gold in the Dubai Mall. There are numerous jewellery stores that provide an extensive range of high-quality gold products. Gold bars can also be purchased in the Dubai Mall from automated machines.
- The Dubai Mall offers a more westernised experience when compared to traditional souks such as the Deira Gold Souk. If you don’t want to brave the heat and crowds, the Dubai Mall may be a better option for you. It has a wide variety of gold products (just like the souks) but within an air-conditioned building.
- The Dubai Mall is an excellent place for tourists to buy gold. There are many options for gold pieces and the shopping experience will be quite relaxed.
- Haggling is used to purchase gold at the Dubai Mall. Just like at the souks, haggling is a part of gold shopping. Remember to never take the first offer and be prepared to walk away.
- Any tourist wishing to purchase gold from the Dubai Mall should do their research first. It is recommended that you understand different types of gold and the current market rate before you begin shopping.
