Dubai, a city situated in the United Arab Emirates, has the largest gold market in the world called Dubai Gold Souk. Even there were just a few sellers at the initial phase, it has grown tremendously with time. Besides gold, various other precious metals are also there, such as platinum, diamonds, white Gold, etc. But still, the peak buying and selling market among metals are Gold in Dubai.
Dubai Gold Souk Market Facts
Dubai is known for many things, However, Gold is one of the most famous things Dubai is known for. Here we are with some amazing facts about Dubai gold souk market.
1. The gold market offers Gold Bars ATMs Machines
Dubai’s gold market also offers an ATM that pays in various carat gold – be it bars, coins, or wearable gems. Such as if you want men’s 14 karat gold chains. You can easily have it via machine. All you can do is choose, make a selection and pay either through credit card or cash. In response, the device dubs the Gold to go and sends out whatever you want. Even the machine is located in the Dubai Mall, and the device has become the impression so much that it needs to be refilled twice a week.
2. Gold Can be Bargained
It is astonishing for you, but Gold can be bargained in the gold market of Dubai. Before hearing it, we usually used to deal with the clothes and other regular day items to reach any incredulous rate. But the Gold can also be purchased at lower prices if you can negotiate with the sellers but only in Dubai. The tight rivalry among the sellers would have made ready for such a circumstance in the souk. So you could buy them in any packages.
3. Largest Gold Spice
Dubai Gold market sunk almost 10 tons of Gold every day. Both the locals and tourists must visit Dubai’s nearby souks, and one can even get the world’s cheapest Gold ornaments from these markets. Dubai Gold Souk is made out of different covered back streets that started from a significant patio. Aside from that, the adjoining streets to be covered with the shops selling countless gold frill.
4. Strange Accessories of Gold are also there
There is no doubt that we have mostly seen gold ornaments and other accessories in the gold markets. But in Dubai, you can see and buy strange things in the shops for sale as well. You might not have seen such diverse stuff at gold shops such as belly dance outfits, fancy head scarfs, Kafiyahs for men, sunglasses. However, there could be independent rear entryways for selling these sorts of stuff, which focuses on the traveler people to Dubai’s business parts.
5. Tourists comes there for Sightseeing
The patterns you will observe from these gold shops in the gold market are exciting and sheer Arabic. Whether it is the headgear sort of huge neckbands, hoops, rings, armbands, bangles, these frills are etched in most typical examples. So explorers on a visit to Dubai can likewise sneak into Gold Souk to break down about the very culture and customs of the Emiratis. Besides, they resemble fake bits of jewelry items produced using lacquer made accessible to buy in Choori Bazaar of Hyderabad.
6. The gold market made-Longest chain in 1999
Dubai’s gold market had become renowned in the past for another proud reason in 1999. The jeweler at Gold Souk broke the Guinness World Record by making the longest handmade golden chain in 1999. The Jewelers group has made a 4.2 kilometers long chain that was composed of 22 karats of Gold. This chain was designed for the Dubai shopping festival and was later cut short and was altered to numerous bracelets and necklaces by their 9600 buyers. This chain was made by the Siroya Jewelry that was sponsored by AngloGold for making an unbelievable chain of 238kg weight.
7. You can do Window Shopping
Walk around the most significant gold market on the planet regardless of whether you would prefer not to purchase any bit of adornments. It will, without a doubt, be an excellent encounter to recall. You will have the option to see great shops on the two sides of this brilliant maze that may entice you into purchasing a piece. There are additionally road merchants selling Gold and “authentic phony” items like Rado and Gucci watches.
Also Checkout: Shopping in Dubai: 7 Tips to shop wisely in Dubai
The Dubai gold market is one of the safest and authentic places to buy and sell gold at discounted prices if you haggle. You can have a massive selection of jewelry to choose from and can visit almost 300 retail shops. You can spend enormous time selecting the jewelry but trying to beware of the vendors who sell these gold ornaments because they may sell you Gold for cheaper rates. Still, they do not adhere to the government rules and regulations and cannot be tagged as authentic.