Gold in Dubai: prices, how to bargain correctly, risks

Gold Souk is one of the oldest markets in the emirate. Its history began in the last century, when in 1958 an Arab nicknamed “Syrian” arrived from Damascus to Dubai. He brought with him high-quality pearls for sale in the market. Due to the fact that his shop stood out colorfully from the shops of Indian and Persian sellers, his trade went very well. Having not even managed to sell half of his goods, the “Syrian” bought gold jewelry with the money he received and began selling them - this is how he became the founder of the largest gold retail chain in Dubai.

Over the course of several decades, gold trading developed here as a separate industry. Today, the Dubai Gold Souk is a network consisting of many points of sale of gold products, and the entrance to the market is decorated with an arch with the inscription “Dubai City of Gold”, which is translated into Russian as “Dubai City of Gold”. Now it is visited by tens of thousands of people from all over the Earth and it is safe to say that nowhere in the world is so much gold sold and processed as in the Dubai Gold Market.

The windows of jewelry stores are filled not only with jewelry made of gold and precious stones, but also with gold bars, collectible coins, gold dishes and various souvenirs. Particularly popular on the market are jewelry for brides with a variety of traditional Arabic motifs, rings and earrings, bracelets and ankles, necklaces, and tiaras. Arab grooms pay bride-price with such decorations to their beloved ones. Usually they buy at least a couple of kilograms.

What is the Dubai Gold Souk

The Gold Souk or the City of Gold in Dubai is not a separate building like a shopping center, but more than 300 retail stores of gold, silver, platinum, diamonds, emeralds, and sapphires.

In addition to gold jewelry (rings, earrings, bracelets, watches, tiaras and necklaces), the market sells all kinds of household items made of gold - door handles, hangers, lamps and night lights, phones and smartphone cases, even handbags. In general, more than 10 tons of gold are concentrated on the market in the most imaginable and inconceivable form.

Despite the large number of tourists from Europe and Asia, the main buyers are Arab women, so jewelry to their taste predominates.

In not so distant times, when the existence of oil in the Emirates was not even known, the main budget-filling industry in Dubai was the extraction and processing of natural pearls. Merchants' shops and workshops were located in Deira.

Other areas did not yet exist, and therefore it is in Deira that all the traditional markets are still located - gold, spices and perfumes. And everything would have been fine, but in the 1930s, the world market was flooded with cheap artificial pearls from Japan, collapsing prices and almost destroying the Emirate’s economy.

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The Arabs did not think about the problem for long and simply began to increase the volume of purchase and sale of gold from India. Things went so well that just five years later (by 1940) the market (which had already become gold) had grown two kilometers wide and three kilometers long! Of course, now it no longer has such an impressive size, however, it has not lost its significance - neither economic nor cultural.

How to get to the Gold Souk in Dubai

Dubai Gold Souk is located on Sikkat al Khail Street in the northwestern part of the city's Deira district.

As you leave Dubai's Golden City, be sure to stroll through the lively streets adjacent to the market. Nearby is the perfume market (Deira Perfume Souk) with a large selection of Arabic and European scents. You can buy oriental spices at the Deira Spice Souk.

Taxi and auto

You can get to Deira Gold Souk by following the signs located on the central streets of the city or by taxi.


You can also take the Green Line of the metro, get off at Al Ras Metro Station or Baniyas Station and walk 10 minutes to the market.


For tourists staying near Dubai Creek, the easiest way to get to Deira Gold Souk is by abra (Arab boat).

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