Visit Dubai Gold Souk (Market)

Due to Dubai's free trade policies which encouraged entrepreneurs from India and Iran to set up stores in the souk during the 1940's, the trade grew. Dubai's share of value of trade in gold and diamonds to its total non-oil direct trade increased from 18% in 2003, to 24% in 2004, despite a general slump in the global gold market. And, yes, we aren't talking millions, we are talking about billions.
The Dubai Gold Souk is a traditional souk (market), located in the heart of Dubai's commercial business district in Deira, near to the Dubai Spice Souk. The Dubai Gold Souk is easily recognisable with its enormous wooden gates welcoming you at the entrance to see and buy some of the dazzling endless windows of gold. In this part of the world gold is a very serious business and it is a truly dazzling site when you see the windows full of every possible piece of jewellery you can imagine.


Over 300 retailers including both smaller stores that operate mainly in the Dubai Gold Souk as well as well established stores likePrima Gold, Joy Allukas Jewellery, Damas and ARY Jewellery, trade almost exclusively in jewellery in the Dubai Gold Souk. Some estimates state that at any given time tere is around 10 tons of gold present in the souk.
Be aware of the price fluctuations in the global gold market - gold prices change daily. Week later that bracelet, ring or necklace will be come suddenly more expensive.They don’t usually cheat, but just in case watch the scale when they weigh the gold. Be careful and, while trying new jewellery, don't let your own jewellery mixed-up with the stuff in the shop. Ask for certificates when applicable and know that you will be charged extra for credit card payments.
Irrespective of design, jewelry prices are based on weight not per piece, unlike in the West. Gold is sold at the daily gold price, obtained from The National Bank of Dubai and set by the UAE government. Because of that gold in the Dubai Gold Souk makes a sensible investment or gift - jewelry prices are lower than you would find back home.


The Gold Souk opens around 10 a.m. closes in the early afternoon (around 1 p.m.), like most stores in Dubai and reopens again around 4 p.m, then closes for the night at 10 p.m. In the morning it is less busy and vendors are keen to make their first sale of the day so it is a good time to buy. All souks are closed on Friday mornings, because it is the Muslim holy day.
Haggling is a tradition, so you should never buy without doing it. The best time for real bargains is during the DSF or the Dubai Shopping Festival, when the gold shops are promoted heavily or during its mini version, taking place every summer in July and August called Dubai Summer Surprises.