Gold Glitz : Reasons to Shop Gold from the Streets of Dubai

Gold Glitz : Reason To Shop Gold From The Streets of Dubai

Besides awe-inspiring skyscrapers, marvellous beaches, luxurious malls, incredible Arabian desert and rich culinary scene, Dubai is also the paradise of gold. Shopping in Dubai is one of the world-class experiences for Emiratis as well as tourists, and it is a known fact popular all across the globe. It is the only city in the world dedicated to gold and thus is well-known as the “City of Gold”. Let’s fall in love with the city more and shop for gold in Dubai.

The emirate is a hotspot for tourism and for all good reasons. The emirate calls people from far and wide to imbibe in its luxury and magic. Needless to say, the city is popular as the world’s best shopping spot where not just clothing, footwear and gadgets grab eyes but the gold also doubles up the fun of shopping with its incredible variety, price and quality. 

Gold in UAE is an emotion to the tourists and Emiratis alike. Famed as the “City of Gold”, the Emirate justifies the existence of its expansive gold souk with exceptional assortment. The icing on the cake is that the gold rate in Dubai is the most affordable in the world. Gold Souk is also called the “Street of Gold” because it is a huge market with several stores, all selling a matchless variety. Located in the Deira region, between Dubai Fish and Corniche, the market is easily accessible for tourists as well as residents. 

Believe it or not, you would love to discover this luxurious yet cheap street like you have never explored anywhere else in the world. Below are some of the surprising facts on the “Street of Gold” in Dubai. Let’s take a look:

Largest Gold Market in the World

Gold Souk in Dubai is the largest market of its kind in the entire world. Initially, there were just a few gold sellers in this traditional gold market. But the market eventually grew in 4 decades as a result of the perfect geographical location of the city. Besides the huge collection of gold, there are currently various precious metals sold in the souk including white gold, diamonds and Platinum. Therefore, it is said that a visit to Dubai is incomplete without a day-long stroll in the market. 

Shoppers can Showcase their Bargaining Skills in the Market

Gold Shoppers

Yes, you read it right. Gold can be bargained in the market. You can negotiate with the sellers and grab exclusive gold items at much lower prices. You might have heard about the textile industry of Coimbatore where buyers bargain to reach unbelievable prices. But, here in the gold market of Dubai, you can purchase gold at incredibly competitive rates like nowhere else in the world. This is because of the tough competition among dealers which is a plus point for buyers. So, gear up for gold shopping in Dubai in any kind of package the very next time you fly down to the city. 

A Large Number of Gold Shop Vendors will Entice You

If we make a rough count of the number of gold vendors in the Street of Gold in Dubai, we will come across more than 380 in the number. While strolling through the market, you will certainly be induced to at least have a look at the variety they are selling which will further lead to buying many glorious jewellery pieces. This glimpse cannot be experienced in any corner across the globe. It is because of the tight competition among the vendors in this traditional market. 

A Guinness World Record in the Market

While walking through these streets of the market, you will come across an extensive glass case where you can spot the largest ring of the world holding the World Guinness Record. This stunning art piece is known as the Star of Taiba or simply as “Najmat Taiba”. The world-famous Taiba Gold and Saudi Arabia Jewellery sculpted this expensive ring. It has around 64 kgs of gold weight and is beautified with magnificent Swarovski stones. Surprisingly, the 5.1 kg of the entire weight of this world’s heaviest ring is crafted of exquisite stones only. 

Gold Souk is Extremely Huge than Spice Souk

Gold Souk

Around 10 tons of gold is managed in the gold market of Dubai on a daily basis. Tourists as well as locals, both love to stroll along the streets of the Gold Souk more than discovering the Spice Souk in the vicinity. Most of the tourists visit the city just to buy Gold ornaments from the world’s largest gold market in Dubai. Moreover, several covered alleys in the market have originated from a renowned courtyard. Besides, the adjacent roads to the markets are also chock full of shops storing countless gold accessories. 

Shoppers Can Also Find an Interesting Variety of Strange Accessories in the Market

Though the entire concentration of the shops in the market is on selling their gold pieces and other accessories, you can also find an impressive variety of some strange jewellery pieces. You cannot even expect such interesting stuff while shopping in the market. This stuff includes fancy head scarfs, sunglasses, sassy belly dance outfits and Kafiyahs for men. However, the market has separate alleys where such kinds of stuff are sold. These alleys target the tourist folks in the city. 

Most Buyers Purchase Them for Investment Purposes But Not to Wear them

Since most of the gold ornaments sold in the Souk are extremely heavy, buyers prefer to buy them as a form of investment. However, the delicate pieces of the yellow metal, which are rarely sold here, are purchased for wearing purposes. The locals in the city buy gold ornaments to give as dowries. Therefore, those pieces are displayed once as show off at weddings but are seldom worn later. Still, people from the local and neighbourhood regions visit the market and buy around 5-6 gold ornaments every year. 

Tourists Visit Here for Sightseeing

tourist buying gold

The patterns and designs of the gold ornaments sold in the market are unique, intricate and sheer Arabic. Be it the headgear style of colossal necklaces, earrings, rings, bangles or bracelets, each accessory is sculpted in the most traditional pattern. So if you are holidaying in the city, you can discover the Gold Souk to sneak into the Emiratis’ culture and tradition. Furthermore, these ornaments resemble the lacquer-made artificial jewellery pieces available in the famed Choori Bazaar of Hyderabad. 

The Longest Chain of the World of Dubai Shopping Festival (1999)

This is yet another proud reason for which Dubai gained popularity all over the world in 1999. A 4.2 kilometre long-chain constructed out of 22 karat gold was designed in the city then. Post the launch of this extensive chain at the Dubai Shopping Festival, around 9600 buyers cut it short and reconstructed it to several necklaces. Well, Siroya Jewellery, sponsored by AngloGold, designed this incredible chain weighing 238 kg. 

Gold Rate in Dubai

Have a quick look at the table below showing the current retail gold rate in Dubai for a gram in several currencies:

24k 224.00 60.98 53.12 45.49 4,539.06 228.72
22k 210.50 57.31 49.92 42.75 4,265.50 214.94
21k 200.75 54.65 47.61 40.77 4,067.93 204.98
18k 172.25 46.89 40.85 34.98 3,490.42 175.88

In a Nutshell

No doubt the priceless glimpses of the Gold Souk are unique and draw the attention of countless tourists from far and wide. So if you are planning a holiday to Dubai anytime soon and wish to include this location in your travel itineraries, you can easily plan a day-out at Gold Souq and delight in the golden wonders of this corner of the Middle East. Dubai is undoubtedly the best destination in the world to buy fine gold jewellery, from basics to trends, be it for a new addition to the collection or for some special occasion. So, get all geared up for some soul-quenching gold shopping the next time you fly down to Dubai. 

More Useful Articles for you :

Gold Rate in Dubai Gold Loan in UAE
Gold Investment in UAE Buying diamond Jewellery in UAE

Reasons to Shop Gold from Dubai – FAQs

From where should I buy gold in Dubai?

The Gold Souk, also called the Street of Gold, is the famed place in Dubai to shop gold, for tourists as well as Emiratis.

Should I buy gold from Dubai or India?

If you are planning to fly down to Dubai, you should consider buying gold from there only. You will not have to pay any tax if you buy gold in Dubai, however, you will have to pay taxes in case you are buying gold from India.

Is gold tax-free in Dubai?

Dubai is a tax-free paradise when it comes to shopping. You do not have to pay any VAT or sales tax when you buy gold from Dubai. But, a particular limit was set on the quality of gold to be brought from Dubai to India or other Emirates by the Central Board of Indirect Taxes and Customs.

What is the limit of gold to bring from Dubai?

As per the UAE Embassy website, if you are travelling from Dubai to India, the maximum limit of gold should not exceed 10kgs per passenger. Remember, it includes the entire gold weight consisting of the ornaments. Customs duty charged on more than 1 kg of coin or bar is 36.05%.

Where can I get the best quality of gold from?

The Emirate of Dubai is one of the best cities to buy high-quality gold at economical prices. Other places to buy the best quality gold in the world: Hong Kong - China, Cochin - India, Bangkok - Thailand and Zurich - Switzerland.

Rohit Kumar
Contact Our Experts
Please enter your name
Please enter your valid email
Please enter your mobile number
Please select city for enquiry
Verify your Number
We have sent you sms with 4 digit
verification code (OTP) on
+- Change
Please enter valid otp

Resend otp succefully

Did not receive the code?
Enter Your Mobile Number
Please enter your mobile number
Thank You ! Our expert will contact you soon...

Are you Interested in Buying or Renting a Property?

Explore Different Options to Buy or Rent a property. Embed this widget on right sidebar in detail pages

Try Now
Looking to buy or rent property
Contact Our Real Estate Experts