The gold market is the most famous and visited souk in Dubai . A labyrinth of covered halls is home to hundreds of stores offering a large selection of jewelry made with gold, silver, diamonds and other precious metals and stones. It is a fascinating place that should be in the itinerary of all tourists, even those who have the least intention of making a purchase, simply by visiting it.
The market price of gold is shown on the signs throughout the souk and in individual stores. Prices are listed for 24K, 22K, 21K, 18K and in AED per gram. The pieces are sold by weight according to the current market price, with an additional charge for labor.
In the United States of America, there is always the barter in the price of anything you want to buy. Sellers initially set a very high price. The price of the piece for the peso is not negotiable, but the charge for labor is yes. Reductions of up to 30 percent are possible.
There are similar items that can be found in many of the stores, so we recommend you take your time to shop around each and every store to compare prices and choose the best option. Payment by credit card is accepted, but the best discounts can usually be obtained if paid in cash.
To ensure that you are buy gold in Dubai in a safe place, you should always do so in stores, where there are strict government regulations that assure you that items that are for sale have passed certain controls with precision. Street vendors do not adhere to the rules and the jewelry they sell often (though not always) can be fakes.
The souk is located in Deira, near the subway station of Al Ras and is open 7 days a week.
The opening hours for the gold market are from 10 am to 10 pm from Saturday to Thursday (but many stores close from 1:00 pm to 4:00 pm). The schedules of the Fridays change sensitively and these are from 4:00 PM to 10:00 PM.
The gold market is the best known, but by no means is it the only place to buy gold in Dubai. If you do not want the experience to be in the souk there are many other places (with air conditioning) to go shopping. One of the best alternatives is the Parque Oro y Diamante (near the “First subway station of Banco del Golfo”.