The Gold Souk is Dubai’s most famous and visited souk. A labyrinth of covered walkways is home to hundreds of retailers offering a huge selection of jewellery made from gold, silver, diamonds and other precious metals and stones.
It’s a fascinating place that should be on every tourist’s itinerary, even those with no intention of making a purchase.
The market price of gold is displayed on signs around the souk and in individual stores. Prices are listed for 24K, 22K, 21K, and 18K in AED per gram. Pieces are sold by weight according to the current market price with an additional charge for workmanship.
Always barter on the price of anything you wish to purchase. Sellers will initially set a high price. The weight element of the price is non-negotiable but the charge for workmanship is. Reductions of as high as 30 percent are possible. Similar items can be found in many of the stores so take your time to shop around. Credit cards are accepted, but better discounts can usually be obtained if you pay in cash.
To be on the safe side ensure you purchase from the stores. Strict government regulations ensure items on sale are accurately described. The street vendors don’t adhere to the rules and the jewellery they sell will often (if not always) be fakes.
The souk is located in Deira, near the Al Ras Metro Station, and is open 7 days a week. 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.
The Gold Souk is the best known but by no means the only place to buy gold in Dubai. If you don’t want the souk experience there are many other (air-conditioned) places to shop. One of the best alternatives is the Gold & Diamond Park (close to the First Gulf Bank Metro Station).
Amar says
What is the gold rate today?
Afras says
What are the currencies they accept? Do they accept USD?
Prakriti jain says
What are the opening and closing timings of gold souk? What is the best time to go there and how much time can easily be spent there?
Editor says
The opening and closing times of the Gold Souk are stated in the text above. Once again, from Saturday to Thursday most shops will be open by 10 am and will shut around 10 pm. On a Friday they open around 4 pm and finish around 10 pm.
The best time to visit is at night. The displays look a lot better when it is dark. It is also cooler so you’ll be more comfortable walking round.
How much time could you spend there? Well it really depends if you are just browsing or actually looking to buy something. If you are just going for sightseeing purposes then I’d say a couple of hours at most. It’s a pretty big market but it isn’t huge. It’s interesting but I think you’ll have seen enough gold and jewellery after a few hours.
Ha strid says
Do you know if the opening/ closing times are the same during Ramadan?
ALi hared says
I need to know the price of gold per gram. Can you tell me the price please?
Editor says
The price of gold varies by the day, and even hour. So telling you the price now is fairly pointless since by the time you get to Dubai it will have changed.
For what it is worth, gold was trading today at 153 AED per gram for 24 carat, 145 AED per gram for 22 carat, 139 AED per gram for 21 carat, and 120 AED per gram for 120 carat.
Editor says
The Khaleej Times are reporting that gold sales in Dubai are skyrocketing due to a drop in the price of gold. At the time of writing, 22 carat gold is currently trading at 137.5 AED per gram (24 carat – 145 AED per gram, 21 carat – 131.75 AED per gram, 18 carat – 114 AED per gram).
The price drop has been caused by speculation that the US is about to raise interest rates, making gold a less attractive investment.
Caroline says
I enjoyed it here but would actually recommend the Gold and Diamond Park for buying jewellery. It was air-conditioned and although not as big as the Gold Souk still had a lot of choice. The staff were less pushy and there were also some cafes there. The Gold Souk is the place to come for an experience but the Gold and Diamond Park is better for buying.