Dubai Gold Souks

Dubai is aptly called the “City of Gold” due to the numerous gold souks operating in the city. The gold souks are so packed with gold; that the combined weight of the gold items showcased is estimated at a whopping 25 tons! Gold here isn’t even priced depending on the intricacies of its aesthetics; the value given to gold items is based on its weight. This speaks a lot of just how much gold is available.

Most of the gold available in Dubai are cheaper in comparison to similar items offered in other shops around the world. No wonder then that many of the world’s richest frequent these gold souks to invest in a highly liquid asset that is gold. You could even possibly profit in this investment.

The gold available in these gold souks are as varied as the people frequenting them. There are gold jewelry, watches, bracelets, necklaces and trinkets of every imaginable shape. They are also offered in many varying colors as they are amalgamated into different alloys to produce the effect; note however that this process does in no way devalue the gold. Since the city is truly rich in this precious stuff, it should come as no surprise that the gold jewelries sold are competitive in prices, meaning it is rather cheap. Also, it could always be cheaper; depending on your haggling skills.

Haggling here is accepted and is in fact expected; it is a part of this unique Dubai experience. The market value of the gold available is the combined total of both the base price of the gold and the price of labor put into making it. This labor cost is what is subject to haggling. If you’re good you can hopefully bring the price down as close to the base price as possible; the only way to do this is through research. You should come prepared when going to these places. As long you look around and pick your souks, you’ll eventually find that perfect gift you’ve always been meaning to give your mother, your wife or your kid.

The gold trade of Dubai offers a lot for everybody, it is almost impossible to not find something to your liking. Even when you don’t find anything suiting your taste, you could always have one custom made. These services are offered for your convenience so some are made while you wait while others are to be picked up later in the day.

Tourists in Dubai almost always buy gold even if gold wasn’t their original reason for the visit. Estimates place the number at almost 95% of the total tourist population buy gold while visiting Dubai. This great lot of tourists are certainly not making bad investments as 95% of the gold is more than 21 carats.

Since these gold souks are situated near the gulf side of the Deira Tower they are always visited by flocks of buyers; because of this it can be pretty busy. Wear appropriate clothes; don’t go the souks wearing restricting clothes. Also don’t expect to get a parking spot close to the souks; you’ll just end up cursing the moment you decided to drive your rented car.
Visit Dubai now and feel the unique experience that is haggling in the gold souks.