Your trip to Dubai can never be complete without visiting the gold souk Dubai. It's one of the oldest and most fascinating markets in the Emirates. Gold Souk, also known as the city of gold, is located in Deira Dubai.

This place is full of beautiful and unique designs of gold. Here you can find the purest form of gold. This place has vast cultural and economic value because its traders are from the same city. 

There is no doubt that gold is the signature of this market. You can find a huge variety of gold here. The great thing about the gold you can find here is that you can get it at a fantastic price.

Gold souk Dubai is one of the world's biggest gold markets. The most incredible thing about this place is that there are more than 350 gold dealers selling gold with traditional and modern designs. 

Dubai is already famous for holding world records. This gold market is also renowned for having gold rings weighing 63.8 kg. You can find a golden necklace with 814 grams, usually used for high-level Emirates weddings. Its pricing is 215000 dirhams. 

You will discover massive gold designs you cannot find anywhere in this world because of their versatile design structure and weight measurement. Suppose you love gold in this case; this place is a must for you.

This old market is also great if you visit Dubai for the first time. You can easily find the shops here with sizzling gold products and sparkling stone work. Its massive selection of gold pieces is enough to surprise the tourists. Suppose you had a tour to Dubai and missed a time there. It means you have seen nothing on your tour.

In this gold market, you will interact with different gold shops occupied with authentic and glittery gold accessories. You never know when these eye-catching series of unique and mesmerising designs may catch you in their spell and make you purchase one for yourself. 

This place is a blessing for gold-obsessed people. Don't worry about the quality of gold you find here. All the gold sellers will provide you with authentic and genuine products. The Dubai government strictly regulates all the gold dealers at this place.

Have A Tour of Dubai Gold Souk's History

This souk was established in early 1900. This place was there before even the United Arab Emirates came into existence. People initially used this gold market for trade and the economy. 

A usual saying about this place is that if you were trying to find a specific kind of gold and didn't find it at this souk. You can't find it anywhere in the world. This place usually makes the brides dipped in gold. 

• Historical Importance of the Gold Souk

The time before coffee and school become a part of Dubai culture. This gold market is older than that. Besides the gold stuff, it was the best place for family gatherings. Kids come here to learn from the traders and dealers.

 People come here to get entertained by storytellers across the souk. Before technology made everything so easy, people used to go to the souk for the sake of formal announcements like weddings or happening in their family. 

Souk was the place to understand the energy and health of the city and the communities around it. Throughout history, the souk was the beating heart to pump life in the surrounding communities. Souk, what you will experience today is much the way it did in the past. 

Gold Souk Dubai is also occupied with a variety of things. Undoubtedly this place sells everything from spices to textiles. This Dubai gold market has everything that you think.

Interactions in the Gold Souk Dubai

The strong gold trade that had been going on for centuries gave the name 'city of gold' to this souk. If you love the idea of getting surrounded by gold in different sizes and designs, this innovative place is for you. 

This place can also be an excellent inspiration for gold designs. The most astonishing thing about this gold market is that you can find everything from small necklaces to casual dresses in gold. You will discover gold, silver, and precious gemstones in this gold market. Undoubtedly, this souk is the heart of old Dubai. 

This place is home to more than 300 gold dealers. Some of the gold dealers have been working there for 40 years. However, you will also encounter dealers who have experience of one or two years in this souk.

• Location of the Souk

You can find this market in Al Ras Deira. Its location is near Deira Corniche near Baniyas Square. Al Ras station is the closest metro station that you will find there.

• Opening and Closing Timing

Some stores operate from 10 am to 10 pm, while some gold shops get closed between 1 pm to 4 pm.

• Price of the Most Expensive Product in this Market

The most precious yellow metal you will find here will be around 7 to 8 thousand dollars worth three million dirhams.

• Lowest Price Rate of this Market

You can find a small and decent gold set worth 1 thousand dirhams. It's the minimum price range of the product you can see there. However, you can find white gold and silver jewellery at quite an affordable price.

Best Place for Competitive Gold Prices

The prices of gold you will get at the souk are the most competitive in the world. The prices of gold kept on fluctuating with time. Therefore, before you go, check the updated gold rates. Gold shops sell gold per gram in this market, while some retailers sell gold per karat. 

Souk is an ample opportunity for you if you want to get gold a great deal. Any of the jewellery shops can help you get that with ease. The reason for the competitive prices is Emirates has zero import tax duty on gold and low taxes on jewellery. 

That's why purchasing gold from this place can get cheaper than anywhere in the world. Further, this place will make you interact with 18k to 23k gold artwork. However, the prices that you will find here are non-negotiable, but a good bargain will help you get the best price. 

If you are purchasing gold for the first time, you must consider some points here.

• Get familiar with the high karat gold
• Know the purest form of gold

For this purpose, you must experience 24k gold, the purest and heavy gold karat.

Techniques for Bargaining to Get the Gold at the Best Price

If you buy gold from Dubai, bargaining can help you get the best price for yourself at this gold market. Considering the following steps may help you.

Step 1: Get sure about what product you want to purchase

Step 2: Don't put an impact on the seller that you wish to buy. It's essential to know the product price. Also, roam around the different shops and find the best price for similar products. 

Step 3: Never take seriously the first price seller told you.

Step 4: Never accept the last price the seller told you.

Step 5:  Put your price demand on the table. Here is the point where bargaining starts through the negotiation process.

After the negotiation comes into place, sticking to your price will make the dealer agree, especially if he wants to sell the product to you. However, to make this technique work, it's essential to try it on most dealers.

Can I Buy Anything from the Souk at the Lowest Price?

In the gold market, it's easy to get intimidated by the gold when you walk through it. You should make the purchase even if you can afford the least. For this purpose, it's essential to go through different shops to know if they have something at the minimum price rate. 

Finally, you may encounter a dealer that may offer you 14k white gold earrings. You can easily find minimalistic and decently designed white gold earrings at a minimum price rate. 

4 Best Tips to Buy Gold from this Dubai Gold Market

A tour of Dubai is impossible if you don't visit this vast gold market. It is a well-known tourist destination in Dubai. When walking through this gold souk, the possibility is great that you get attracted to buy something. Therefore, here are some tips to help you make the best of your experience while purchasing gold.

1. Have an Idea about the Market Price

Knowing the market price will make you deal better with the dealer. It's the most crucial factor before you proceed with the purchase. 

2. Get Familiar with the Gold Types

Good research before purchasing can help you get quality gold competitively. Choosing the gold with the least amount of alloy mixing is essential. 24 karat gold is at the top of the list in this regard.

3. Choose Your Product

The most important thing for purchasing is having the clarity you want. It can be a necklace, bracelet, ring, or even earrings. 

4. Learn to Bargain

Now the bargain techniques come into play. Pro-tip is here. Try to lessen the 25% market price of the product you want to purchase.

Wrapping Up

Gold Souk Dubai is ideal for buying jewellery or simply admiring the shine of gold accessories. People from around the world come to Dubai to visit this place for the best prices of gold. This gold market comprises glittering shops occupied with sparkling necklaces, earrings, and watches made with precious yellow metal. If you want to visit the real Dubai, this oldest fascinating souk is worth visiting and intimidating.