Dubai has for a long time been a favorite destination for holidaymakers. The city spills out luxury, and for the shopping addicts, this is a dream come true. From top-notch brands selling their items at the largest mall to finding the same brands at cheaper rates in the retail marts of Dubai, it gives one-of-a-kind experiences to its visitors.

Although Dubai is known for its renowned marvels, the city is also well-known as the city of Gold, and there’s a reason for it. The world-famous Dubai Gold Souk is situated here, one of the largest retailers of gold on the globe. So, grab your Dubai visa and get ready to be awe-struck by the gold like never before.

Dubai Gold Souk

Dubai Gold Souk is the world's largest, oldest, and most unique gold market. It is situated in Deira, which is the oldest part of Dubai. The Arabs consider souks to be a reflection of their culture, and it fits perfectly with the grandeur of Dubai and it is the only market where the commodity is gold, which has no security outside the shop. Fascinating right? Yes, the market provides every opportunity to explore the stalls freely, where you can find gold in any form that one can probably imagine.

Location and History

Seated in the heart of the city’s commercial district, Deira, the souk is accessible by both waterways and roadways. The souk we see today started its journey somewhere within the 1900s when just by a few traders, it witnessed its first ever growth when the free trade policy of Dubai paved the way for traders from India and Iran during the 1940s and 1950s.

The Gold Souk is bordered by the Fish Market towards the north and the Vegetable Markets. You will see the walkways are covered with labyrinths as you enter the souk, and likely to witness a crowd teeming at almost every step. There are more than 300 gold retail stores, among which some are as old as four decades, and some are as new as now.

The Gold Collections of Dubai Gold Souk

Once you enter the Gold Souk, you will see a wide range of gold items displayed through the windows at every shop. As you look through the windows, you can see the market price of gold displayed outside the shops in Dirhams and updated on a daily basis as the gold rate changes.

The souk features a mixture of gold collections in 18, 21, 22, and 24-carat pure gold ornaments. You can select the piece of jewelry you like, and the retailer weighs the gold and lets you know the price of the gold, which includes an additional charge for workmanship (making charge).

For the best part, you can even try your haggling skills here, and it is highly recommended as the sellers set an initially higher price. Remember, the price at which the gold weighs is non-negotiable, but the making charge is negotiable.

Along with a plethora of gold jewelry, you can also look for intricate gold ornaments studded with precious stones like rubies, diamonds, and emeralds, or you can separately buy carefully inspected pearls, diamonds, rubies, and other precious metals. You are likely to find similar items in many shops, so take your time to look around and do not worry about the quality and authenticity of the gold because the Dubai government regulates the prices and policies here. 

However, to avoid scams and fraud, purchase from the stores rather than street vendors offering you a low price.

Travel tip: you can choose to purchase the gold using debit or credit cards, but buying it in cash always offers better discounts.

Gold taxation

Jewelry sold through Dubai is subject to a 5% VAT (Value Added Tax) charge. However, if you are an international visitor, the Tax Refunds for Tourists Scheme allows you to claim 85 percent of the VAT charged at the airport during your departure. You must purchase the goods from a participating retailer and present a sales receipt fund tag in order to claim the tax refund.

Travel tip: Look for the tax-free stickers on the windows of the shop.

Interesting facts about the Dubai Gold Souk

• The gold ring here holds the Guinness World Record for the heaviest gold ring in the world. It weighs over 63 kgs. You can look for the world record ring at the Kanz Jewels shop.
• The largest gold necklace is displayed in the Gold Souk.
• There is said to be a minimum of 10 tonnes of gold present in the souk at any given time.

How to reach the Dubai Gold Souk?

You can take a metered taxi right from the Dubai international airport, which takes approximately 20 minutes to reach. Once you are dropped off at the Creekside, take a water taxi to reach the other side of the creek. It only costs 1 dirham.

Enjoying a day in Dubai Gold Souk is one of the best things to do while on your trip to Dubai. It is one of the breath-taking sites to visit even if you are not buying anything.