Gold Souk Dubai – Biggest Gold Market in the Arabia

The city of Dubai is world famous for its famous souks, its merchants selling all kinds of unusual objects – from textile to spices – in a historic commercial district. Trying the shopping experience in these souks has become an attraction in its own right because of the treasures there, offering customers clearly different purchases than those made in shopping centers. The textile souk and the spice souk are two places offering exhilarating and interesting experiences, but to make real bargains there is only one place: the gold market, the famous gold souk Dubai.

Beginning of Gold Souk Dubai

Famous in the world since the 1940s when traders and entrepreneurs from India and Iran settled in this part of the city, the Deira gold market (also known as the gold souk) is one of the foremost reason why many people opt for a shopping holiday in Dubai. With its many shops, wide variety of gold accessories and extremely reasonable prices, the Deira gold market is the destination par excellence for jewelry enthusiasts. Shop windows here are encumbered with bracelets, necklaces, rings, diamonds, emeralds, rubies, sapphires, etc. This makes the gold souk Dubai, one of the favorite stops of tourists in the Middle East.

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The Deira Gold Souk is the biggest gold souk in Arabia you will always find it swarm with buyers and visitors. Although it bears the name souk, the place itself does not really have the charm of a traditional souk since it has more shops, 300 in number, that are placed one after the other in the alleys. The ideal time to visit the souk is to go for a walk in the evening, especially because it is at this time, because the souk particularly look spectacular at night. Because as the night falls, the lights of the shops light up which makes the jewels begin to shine at their ultimate luminosity.

Here you can easily find different types of gold and precious stones and a multitude of jewels, ranging from the most traditional to the most modern designs of bracelets, watches, rings, necklaces, etc. at the prices that are among the lowest in the world. Some estimates indicate that around ten tons of gold are constantly present on the Dubai gold market. Some of the biggest merchants are Damascus, ARY Jewelers, Shyam Jewelers and Joy Alukkas.

Here the price of gold is generally more advantageous than it is in Europe or the United States, but for those who wish to make real bargains, it will be necessary to haggle a little. Here are four essential tips and tricks to save money and bring back treasures. Trade hard and remember that gold is sold by weight (learn about the international price, set daily in the newspapers if you want to take it seriously). You can only haggle over the price of labor too.

What was then an old-fashioned market has changed over time, moving from a traditional market to a maze of streets where each stall has its own showcase, its own digital display indicating the daily price of gold, alarms and shutters protecting precious goods at night. It is not surprising that security is taken very seriously at the Dubai gold market, and all activities are strictly monitored. Beware however of pickpockets in the crowd. For those who really want to haggle, here are the four essential tips and tricks to save money and bring back treasures.

1. Be Gentle & Polite

Although most merchants enjoy haggling with their customers, it is important to distinguish between a warm exchange and an impolite exchange. Generally speaking, the merchant is waiting for customers to take the plunge to lower the price during a pleasant bargain, but if you do too much and insult the merchant, you will not get any good. The best way to do business is to establish a friendly and respectful relationship between you and the seller.

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2. Take Time to Survey the Whole Market

Buying gold, diamonds or any other precious gem is a matter of margins, and the more you know about the market trends, the better you will be equipped to make real bargains. With gold, the value of the market will always impose about 80-90% of the price, but the remaining rate – that is of labor and the profit of the merchant which is the actually price to be negotiated.

3. Don’t Accept the Initially Offered Price

For those who are used to markets and shopping, it goes without saying, but it is not always the same for beginners. Indeed, when the latter ask for the price of an article, they make the mistake of accepting it without flinching. In the Dubai gold market – and in many other small shops in town – the first prize given is never the best. So haggle till you sweat.

4. Be Prepared to Be Refused

There are a lot of small stalls in the Gold Souk, and it is merchant’s nightmare that a customer goes to buy from a rival. If you cannot haggle as you like, pretend to leave the stand to go elsewhere. You hold there the most powerful tool of your arsenal; In fact, the merchants will hasten to lower the price of the desired article. And if it is not, console yourself because there are several other small stalls where you can buy this jewel that makes you dream so much, and at an unbeatable price.

Hope this helps you making the best of your gold shopping from Gold Souk Dubai. Please, share your experience by commenting below.