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Gold Souk in Dubai

The Dubai Gold Mall or Dubai Gold Souk or Dubai Gold Souq is a traditional and very popular place among the tourists in Dubai. The Gold Souk in Dubai is known for its high end gold jewelry as well as low and cheap jewelry is also available. The Tourists look for the best price to buy the gold jewelry in the mall. The mall deal in business of Gold, Diamonds, Platinum and occasionally in silver. The mall have 380 retailer shops in numbers. Some of the shops in Dubai Gold Souk is as old as 40 years while many are new also.

 deira gold souq dubai

Location of Dubai Gold Mall:

The Dubai Gold souk is adjacent to the Dubai Deira Corniche and fish and vegetable market, near Baniyas Square at Sikkat Al Khali Street. Old Souq marine station is located on five minute walk. Al Ras metro station is also located on five minutes’ walk. The visitors can use this metro station as a mode of transportation. Deira Bus stand is the closest bus stand.

Dubai Gold Market The Gold Souk in Dubai

The Dubai Gold Souk timings:

From every Saturday to Thursday the Dubai Gold Mall remain open from 10am to 10 pm. Some of the shopkeepers close the shops from 1am to 4pm as mid break. On Friday first half the shops remain close. After 4PM to 10 PM the shops remain open again.

Gold Market in Dubai

Best time to visit Gold Souk in Dubai:

If you are a serious buyer of gold and going just for widow shopping then mid-morning is the best time for the shopping. The reason is that there is very less crowd at this time. You can bargain easily at this time. Moreover you have enough time to get to know the exact prices of gold which is not possible when it is too much crowd.

Gold souk in Dubai Guinness world record

Dubai Gold Mall Guinness World Record:

The largest ring of the world as per Guinness Book of world Record is present on the door of Dubai Gold Mall. The ring is known with two names, Najmat Taiba or Star of Taiba. This ring is locked in the window of a shop in the Mall. The total gold used to make this ring is 64 kg. 21 carrots of gold is used which cost around 2.2 Million AED. More over 5.1 Kg of precious gold is used in the ring.

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Quantity of Gold Present in Dubai Gold Mall:

A record 10 tons of gold is present in Dubai Gold Mall every time as per estimates.

gold souk in dubai 9

Renovation of Dubai Gold Souk:

On July 3rd 2018 the Dubai municipality planned to facelift the Dubai Gold Mall in Deira. The news was brake by the municipality officer while interacting with customers and shopkeepers. Jabir Al Ali, director of the general maintenance department said that we had carefully listened all the requirements of shopkeepers and experiences of customers and we will take great care of all concerns opinions.

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Discounts at Dubai Gold Souk:

The Dubai Gold Mall or Souq offer one of highest ever discounts on gold. Sometimes these discounts are up to 80% of total invoice price. The month long festival “My Jewelry Season” offer this huge discount from June to July 2018. Keep in mind these offers are not on all stores and you have to carefully look around for the prices and discounts of gold ornaments.

Gold souk in Dubai 90

Bargaining at Dubai Gold Souk:

The bargain at Dubai Gold Mall is a routine and normal thing. If you have a high bargaining power you can buy better deals. The weight price of the gold is not negotiable so always try to get bargain on making and labor charges of gold. Some of the customers even succeeded to get the discounts as high as thirty percent.

gold souk in dubai

Payment Mode in Dubai Gold Souq:

The Dubai Gold Mall all accepted payment methods including, credit cards, debit cards, and cash. For the better discounts is only available on cash deals. Usually the merchants not offer discounts on credit cards. Borrow of gold is only option between the dealer and not for the buyers.

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Quality Control in Dubai Gold Mall:

The government insure the high quality of products in Dubai Gold Mall. The product as per description is also ensured. Careful while purchasing gold and must sure this should be from register shop and not form the street vendors. Street vendors do not follow the quality control and mostly the products are fake or mix of gold and impurities.

gold souq in dubai

Tips for better buying from Dubai Gold Mall:

Anyone can buy from Dubai Gold Mall but if you not have experience of buying gold and do not know much about gold then you must be careful about the below tips.

Price Prudent:

Price prudent mean you should know what is market price of gold on the specific day when you are buying the gold. The gold price have huge fluctuation every day so must know the price for better deals and bargaining at the mall.

Knowing the gold standards:

Gold standards are usually defined in Carrots. The highest carrot is 26 which mean 99.9% pure gold. Anything below 26 carrot mean there is impurities in gold. For gold ornament usually standard of gold is 24 carrot which mean that gold is 92% pure. The 26 carrot of gold is not used for making jewelry as it is very soft and jewelry breaks. For each carrot the price is different. The color of gold indicated what kind of impurities are added. Yellow color mean that silver is added while brown color mean copper is added in gold to make ornaments.

Choice Prudent:

You must be choice prudent when buying gold. You should exactly know what you are going to buy. What standard of gold on what price and what design with what finish. If you are not clear at home then you should make yourself clear in mall after watching different shops. Do not buy if you are confuse on any of these, design, gold standard, gold finishing or gold price. All of these are equally important for making good deals in gold.

Bargain on right thing:

Always try to bargain on right thing. The different shops have same design so better to know the market first. A complicated and good finished product have higher labor charges. Do not bargain on the weight rate of gold as it is usually same everywhere. Try to bargain on the making charges which shopkeeper bargain easily. If you know that a shopkeeper is charging high for the gold rate you can complain to police but high gold rate charge is usually very rare.

Another thing on which you can bargain is the stones used in ornaments. This is also a bargain able item but avoid buying jewelry with heavy stones if you don’t have ability to recognize the quality of stones.

Window shopping:

When you are in mall you are not in single shop and don’t create image this product is only available with this shop. Do window shopping for some time to get idea what kind of things is available and on what rate. Once you clear your mind about the making design and requirement of yourself then go to make some serious deal.

Unnecessary Bargaining:

Avoid unnecessary bargaining. If you thing a dealer is already offering you a reasonable rate then don’t go for the future bargaining. The Dealer may refuse to sell the product if got irritated. The dealer will never make himself in loss for you in any case.

If not like the gold in Dubai Mall:

If you not like the gold in Dubai Mall must remember that it is not only place in Dubai to buy the gold. A lot of other malls and shops are available in Dubai to buy the gold. So if you not like the gold or style leave the mall and go for some other mall. Many mall are even available near to Dubai Gold Mall.

Super User

       Jasim Mushtaq is the founder member of UAE Tours and Travels and dedicatedly working for the improvement of this blog.

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