The Ladies Favourite Gold Souk of Dubai
Souk refers to an Arabic shopping place. The Gold Souk of Dubai is situated in Deira and is one of the popular tourist destinations of the emirate. This commercial business district is full of hustle-bustle throughout the day. There are over 300 retailers in the souk. Most of the retailers are generally jewelry dealers. The souk houses more than 10 tons of gold at any given point of the day.
Dubai is a hub for gold lovers. Exceptional low prices attract billions of people to the Souk. However, the customer should have a very strong bargaining power to get the best possible deals. You can also find diamonds, platinum, and silver occasionally. The government of Dubai exercises a strict control over the quality of the goods. The strict control and supervision ensure that there are genuine transactions throughout the dazzling Souk. However, the visitors must be wary of street vendors. Many street vendors sell spurious products to the innocent customers. If anything, fancy ever catch your attention, make sure to barter and haggle hard for it.
The Gold Souk of Dubai is a frequent stopover of many tourist buses. It is located near the Al Ras Metro Station. Gold is the primary objective of frequent tourist visits. However, a visitor may also be intrigued by the formation of this place.
When shopping in the Gold Souk, a purchaser should keep in mind, the following:
- Good knowledge about the market price: Vendors may quote twice the prevalent price to naïve customers. Prices fluctuate on a daily basis. If you are well aware of the prices, you can easily haggle with the vendors. The Dubai Retail Gold Rate is a good source of knowledge about the gold market in Dubai.
- Good knowledge about the types of gold available: Research is always the key to a successful purchase transaction. Gold is mainly sold by weight and Karat. Gold with higher Karat is regarded to be purer than the ones with low Karat. 24 Karat gold is regarded as 100% pure. Usually, gold is regarded as a soft metal. It gets hardened when mixed with different metals like copper, silver, zinc, nickel, etc.
- Choose your jewelry: Once you know what type of accessory you want, you should ask about its Karat and weight. The attendants will weigh the pieces you choose.
- Bargaining should be your strong point: In a place like the Gold Souk of Dubai, we emphasize again that you should be a pro bargainer. Haggling is an art and must be mastered before going to the ridiculously low priced areas of the Souk. You must bargain a straight 75% of the quoted price. In some cases, you should go as low as 50%. Be ready to walk away if your price demands are not being met by the vendor. Many times, the vendors will ask you how much you are willing to pay. The haggling is based on the Rate and the Make. It must be noted that the shopkeepers are usually very strict about the prices.
- Roam around: Before fixating on the price of your purchase, it is important to check out a maximum number of shops in the Gold Souk. There are hundreds of retailers to choose from. However, it is important to shop only from those vendors whose shops are being monitored by the Dubai Police.
- Don’t be too frugal: Many times, bargaining may not be the best solution for you. If you have already got your heart on an item and the price is not being negotiated further, it is better to drop your fantasies and move on. But the item is within your budget, and then it shouldn’t be much of an issue. It has been specially noticed that there is not much scope of haggling on rings.
The opening hours for the Gold Souk are 10 am to 10 pm Saturday to Thursday (but many stores close between 1 pm and 4 pm). Timings on Fridays are 4 pm to 10 pm.
It is a very widely known fact that vendors from all over the world flock to Deira to showcase their wares. Many Iranian and Indian traders set up their shops in this region. This sprawling district of Dubai is extremely cheap when compared to many of its neighboring areas. The extreme amount of flexibility in operations and strict supervision and control by the Dubai Police have made is a very popular shopping spot in the recent times. It’s a fascinating place in Dubai that should be on every tourist’s itinerary, even those with no intention of making a purchase.