Dubai: The Perfect Destination for Buying Gold
Dubai is the city of the future which is not only famous for its skyscrapers but for gold shopping as well. It is also known as the City of Gold. No itinerary would be complete without shopping in Dubai. Due to the exclusions of taxes, prices for gold have always been cheaper as buyers would only pay for the value of gold.
Gold Trade in Dubai
Dubai’s geographic location is a major asset in serving the gold industry. The Gold Souk in Dubai was founded in the early 1900s. During that period, merchants set up shops, not too far from the creek. That also encouraged a tax free and trade friendly environment. Due to its proximity to India- the world’s largest market for gold, it is a major asset in the gold trade.
Best Places to Purchase Gold from Dubai
Here’s the beauty of shopping for gold in Dubai: all that glitters is almost certainly gold.
The market is located in Old Dubai. It’s definitely one of a kind experience that deserves a spot on your itinerary. The largest gold market in the world with over 350 gold dealers. Dubai Gold Souk is a must visit for someone who wants to explore the traditional Arab markets.
Gold and Diamond Park
A shopping mall that has exclusive jewellery shops. So, if you want to buy gold, diamond, or other types of jewellery, it is the perfect place for you. One of the best parts of shopping here is that there is no tax.
Mall of Emirates
Some of the most outstanding Dubai’s gold retailers have set up shops here. You can also find top international jewellery brands for example Bvlgari, Cartier, Piaget, Swarovski, and Tiffany & Co.
A perfect place for last minute gold shopping in Dubai. Terminals 1 and 3 in the Dubai International Airport are the best places to buy gold. Although, there are very few options available for buying gold here. However, the shops here are open 24*7 which makes it easier to buy gold.
Range of gold carats- 18k to 24k
A carat is a unit to measure the purity and quality of gold. The higher the carat rating the higher the purity of gold. To make gold more resilient, other metals are mixed with it during the manufacturing of jewellery and gold fixtures.
24 carat gold– The purest form of gold which is not mixed with any other metal. Therefore, it is unsuitable for regular wear or use.
22 carat gold– It is the most commonly bought gold. Bangles, chains, and classic rings are made using this.
18 carat gold– It is gold that is common in making jewellery. This gold is typically used in the manufacturing of wedding rings and studded jewellery.
Tips for buying gold
- Know the market price- Gold prices fluctuate on a daily basis. So, you must know the prices before visiting.
- Sellers will expect you to haggle so they have set a buffer price. So, you should learn how to haggle.
- As there are a lot of gold shops you need to be careful before choosing the right shop.
- You need to be careful while buying gold, as they sometimes change it with fake jewellery.
- Thus, you should only deal with reputable gold dealers, to ensure good quality products.
- For extra assurance, look out for shops with the Bareeq certification displayed within their premises.
Sightseeing in Dubai
So, after you have done shopping, set aside some of your time for exploring the city’s attractions.
Here is a list of some of the must visit attractions:
In conclusion, it’s hard to argue that there is any place better than Dubai to get that unique piece of jewellery.
So, connect with Travel Saga to book your Dubai tour now. For more information visit our website.
Q. Is it cheap to buy gold from Dubai?
Gold is 5-7 % cheaper to buy from Dubai, as compared to other markets.
Q. Which are the best shops to buy gold in Dubai?
Talking about the best shops in Dubai to buy premium quality Dubai then Damas Jewellery, Kyra, Damiani, Rosella, and Joyalukkas Jewellery are the best shops.
Q. What makes gold cheaper in Dubai?
Well, due to the negligence of taxes, gold in Dubai is available at cheaper rates. Due to this, it’s highly beneficial for you to buy it from Dubai. Also, you can bargain at the gold shops in Dubai to save more money.
Q. Which month is the cheapest to buy gold in Dubai?
It is advisable to shop for gold during the Dubai Shopping Festival (December and January) or the Dubai Summer Surprises for the best bargains and offers.
Q. Why is Dubai the City of Gold?
Dubai has capitalised on its geographical position by setting up gold vaults, jewellery making facilities, and refineries.
Q. Is gold in Dubai of high quality?
Yes, the purity and quality of gold are better than what is available in other parts of the world.
Q. How can we find the daily market rate of gold in Dubai?
You can find the daily market rate of each carat on the Dubai City Of Gold website, then you can compare it with the rates at the shops.