Souk is an Arabic origin word which means a traditional market. Dubai Gold Souk is a very famous and well known traditional market in in Dubai, UAE. It is located in Deira Dubai which is the commercial business area of Dubai. The Gold Souk has over 380 dealers in it and most of them are jewelry traders.
Some of the shops in Dubai Gold Souk are too old from decades and some of them are recently built. The top items are trading here includes Gold, Diamond, platinum and silver too.
Dubai Gold Souk is bordered by Dubai Fish and vegetables market to the north and Deira Corniche to Baniyas square at Sikkat al-khali street and it is close presence to the Deira bus stand too. There is Dubai creek and Dubai textile souk near Gold Souk as well. It is said that, Gold souk will be rebuilt soon. The Municipality of Dubai plans to make Gold souk an upbeat destination for tourists.
History explains that in old days of Dubai, Iranian and Indian traders started shops in Deira Dubai. Which is now the sprawling district of Dubai. Today this Gold souk market is known for its cheap rates selling gold as compare to its neighboring gold selling markets.
The Gold souk Dubai is the most famous and most visited market in Dubai. It is equipped with the labyrinth of shaded walkways is a place to hundreds of retailers providing the huge and antique selection of jewelry made with silver, gold, platinum, diamonds and other precious metals, stone and materials.
It is a busy commercial place that should be on every tourist’s visit list. It is a place to must visit during your visit in Dubai even you are not interested in buying anything from there as many organized tours must stop here.
The Gold Souk is located in Deira Dubai that is an old commercial area of Dubai. The nearest Dubai Metro station is Al Ras metro station on the green line. The bus stations are Al Sabkha and Gold Souq bus station.
Buses that going near the Gold Souk are bus service number 8 and the route of the bus is Ibn Battuta Bus station via Dubai Marina and Jumeirah beech residence, (Al sufouh) Madinat Jumeirah, (Umm suqeim) Burj Al Arab, and Jumeirah.
You can take an Abra the boat service across to creek from Bur Dubai to Deira Old souk. The nearby Abra station is Diera Abra station.
Price rates of stuff:
Usually market rates of gold or any other metal are placed outside every shop around the souk. These prices are mentioned under the quality like 24K, 22K, 21K or 18K in UAE AED per gram. The current rate of gold in Dubai can be changes according to the need of time.
The all stuff is sold by the current market rate of the particular metal with additional making charges of the worker. You may bargain for the prices as they are offering different prizes adding their making charges in it so they may decrease the charges after bargaining.
Different tips to know before shopping in Gold Souk:
Whenever you are visiting to any market you may heard about that market from someone or you might check it online and check the ratings and reviews then you want to visit it. What main things you check before going to any place is the stuff selling there and the prices or the quality or the process that how you can check whether the thing you are buying is up to the original quality or not.
So you should know some of the tips before visiting the Gold Souk Dubai and these are mention below;
First know the market rice: The first tip is to get to know the same day’s market price of gold or any other metal because gold is like stocks and its price fluctuates on every single day. So it is best to know the exact rate so it can help you later to haggle with the shop retailers in Gold Souk Dubai. The best way to check the rate is ‘The Dubai retail Gold rate’.
Knowledge of types of Gold: Another helpful tip is to must have the knowledge of gold and its types. Like gold is sold in different karats and weights. The higher the karat is the pure that gold is. That means 24 karat gold is the most purer form of the gold. The pure gold is soft and to make it strong and solid they mix it with different metals such as zinc, silver, nickel or copper.
That is why the gold has different colors as well because it depends on the metal used to mix in it to make it solid and the weight of that second metal too.
Choose your desire jewelry: Once you know that what type of accessary you desire, whether it is a ring, necklace, bangle or any other form of gold then you ask from the vendor about the karat and the weight of that particular thing. They will weigh that thing and tell you the weight and the karats of this chosen thing which can make your decision easier to buy or not.
Technique of haggling: This is also one more good tip to learn that how to haggle during sopping. This you can learn by going in to different shops to buy the same thing and in Gold souk also you can visit different shops to check their prices and ask from the last price they offer you.
Actually they are already telling you little higher so they know that you will haggle and then come to the exact price what they want you to give. Try to bargain at least 25% down from the price they tell and try to bargain according to the price you afford and keep in mind the fashion trend along.
You may walk away if the price doesn’t suites you to give an impression that you want this on the price you said.
The haggling is actually based on Rate and the Making. The rate is the price of gold which you already know that how to check and what does it mean Rate cannot be negotiable and Make is the charges of the labor who made it which can be negotiable in some cases.
You can haggle more if you are buying more pieces but if the design is made delicately the more difficult to haggle or it.
Buy from any shop: One more important thing to know is not to buy gold stuff from any outside stall as it is not hundred percent authentic or guaranteed because inside the shops Dubai Municipality is responsible to check the quality and the shop vendors give you guarantee for the thing but out sider will not, which is very necessary.
Is Gold cheaper in Dubai?
This is one of the rising question in most of our minds that in God souk the price of gold is cheaper relatively from other countries?
The answer to this is that from 2008 the government of UAE added VAT on every purchase in the country but still gold prices are cheaper in Dubai as compare to the other countries and one very important thing is that in Dubai the gold quality is higher than anywhere else because while making any jewelry they are not adding another metal into it to make it more solid or cheaper. This is the best thing which exceeds us to buy gold from Dubai.
Dubai is actually known in other countries for its best gold trade and the quality of gold offered there is preciously genuine as Municipality of Dubai checked the material selling the Gold souk shops frequently.
Timings to visit Gold Souk:
The Gold Souk Dubai is open 7 days a week. The opening hours from Saturday to Thursday are 10 AM to 10 pm. The Friday opening hours are from 4 pm to 10 pm.
On normal days most shops are closed or on break from 1 PM to 4 PM. The best time to visit Gold Souk Dubai is afternoon 4 pm.
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