The tourists in Dubai consider buying gold, as gold is famous in Dubai; it is usually priced lower in comparison to other parts of the world. Also, the gold in Dubai is tax-free. The Gold Souk is considered the first place that mainly comes to mind when thinking about buying gold, as it is considered one of the oldest and famous markets in Dubai. The prices of gold are lower in Dubai due to the tax-free environment. Various gold karats are available. If you are able to understand it properly, then it will help in guiding your buying decision. To get more information regarding the Dubai Gold Souk, continue reading this guide.
The History of Gold Souk Dubai
The Gold Souk Dubai is a traditional market that is situated in the Dubai commercial business district in Deira. The history of the Dubai gold souk dates back to the early 1900s, when there were only a few unknown local jewellers who had their shops. In the year 1940, the Iranian and Indian dealers started setting up the stalls in the area and developed a hub for many people. The gold market has gone through numerous renovations and expansions numerous times over the year, yet it retains the pleasant and old atmosphere of an Arabic market. The Dubai gold souk has now become one of the prevalent and busiest jewellery markets in the world. The visitors can get the fair deals on the gold and jewellery, even if you have not visited there for shopping, you will be thrilled to see the brilliant, magnificent and stunning treasure of the gold souk.
Why Visit Gold Souk Dubai?
The Gold Souk Dubai is known as the cheapest and safest place in the world for buying gold. People around the world visit here to buy the gold coins, gold jewellery, gold decoration and gold bars. For the luxury lovers, the gold souk is considered the little Disneyland. Many things can be made of the gold, from homewares to shoes to full sets of the outfit. You can come here for both sightseeing and shopping, and can enjoy discovering the exceptional market, and you can take photos of the exploration. This place gives an unbelievable vibe and provides a thrilling sense of excitement and adventure, like you are on Treasure Island. You can use credit cards to buy the gold, but there are a few store owners who are in favour of cash, so if you purchase the gold with paper money, then you can get the gold at a better price and with discounts.
Shop for Gold and Other Rare Jewellery
The manufacturer and retailers in the area usually sell 18-karat, 22-karat or 24-karat pure gold. The prices of gold in Dubai are mainly cheaper compared to other countries due to the availability of Emirati laws and taxes on gold. There is no value-added tax or import duty on the gold bars that are entering the UAE market. Apart from the jewellery and gold bars, you can find the shops that are selling diamonds, pearls, platinum, silver and other precious metals and stones. The style of the accessories and jewellery at the Gold Souk Dubai mainly sorts the traditional Arab, Indian and the contemporary Italian designs.
Best Time to Visit Gold Souk
The Gold Souk market is open 7 days a week (Saturday to Thursday) between 10 am and 10 pm; however, there are some store owners who close their shops at 1-4 pm. For the Islamic countries, Fridays are the weekend, due to which the timing on Fridays is different in the gold souk, i.e. 4-10 pm. Apart from the common schedule, the best time for buying gold in this prevalent international market is the Dubai Summer Surprise or Dubai Shopping Festival. You can get the exceptional deals in these festivals, you will get the best jewellery, gold and similar products at the best prices. The Dubai shopping festival is organised every year between December and January.
Do You Need a Visa to Visit the Gold Souk in Dubai?
Yes, to visit the Dubai Gold Souk, you need to ensure that you have applied for the Urgent Dubai Visa. You can apply for the visa through the Urgent Emirates Visa to have a hassle-free journey. The Urgent Emirates Visa online is processed much quickly than the standard one. With the urgent Dubai visa, by charging the small Dubai urgent visa fees, this can be accelerated to just 4 hours, which can be useful for people who want to travel on an instant basis for some reason.
Conclusion
The Gold Souk Dubai is more than just a place to shop; it is a historical and cultural landmark at the heart of Dubai. In the Dubai Gold Souk market, you can get the magnificent gold jewellery in 18K, 22K and 24K. There are more than 380 stores in the Dubai Gold Market that offer a wide range of unique gold pieces to consumers. The prices can vary based on the daily gold rate, VAT and making charges. With the vibrant atmosphere and regulated sales, your shopping experience can be safe and enjoyable.
FAQ
Are gold prices in Dubai lower compared to those in other countries?
Yes, the prices of gold are lower in Dubai as there are no extra taxes. The price which you will pay is mainly for the gold’s karat.
How do I know if the gold jewellery is authentic?
To buy authentic gold jewellery, you have to select the shops with clear certification and good reviews. To check the purity of the gold, you can look for the key marks like 18K or 24K.
What are the best deals at the Gold Souk Dubai?
To get the best deals in the Dubai Gold Souk market, you have to compare the prices of Gold with the different shops, and you have to keep an eye on the global gold prices.
