Dubai, the City of Gold
Dubai is the largest gold trading centre in the Middle East. Dubai’s gold industry is famous for its high quality and impressive designs and workmanship, but it is the free trade environment that makes Dubai one of the cheapest and most popular places in the world to buy gold jewellery.
Know your Gold
Karats: Gold is typically available in 18K, 21K, 22K or 24K. The karats refer to the purity of the gold. 24 karat gold is the purest form of gold available designs. 22k gold is 22 parts of gold and 2 parts of other metal alloys. Purity of the metal sold in Dubai is strictly regulated by the Dubai Central Laboratories Department.
Gold colors: The purest form of gold, 24k has the richest and warmest yellow color, which cannot be changed. Others are coloured either by the metals added, or by secondary processes. Rose gold, for example, is made by adding a greater percentage of copper into the gold mix. Much of the gold at the Gold Souk is Indian yellow gold, 22 karats, and has been given a vibrant yellow finishing.
Gold in Dubai is sold on gold price plus production charges, whereas elsewhere in the world it is sold by unit. It’s possible to buy gold in all the well-known malls, including the Dubai Mall, Deira City Center, Mall of the Emirates, Karama Centre and Burjuman, but two places in particular draw serious buyers.
The Gold Souk is in the heart of Dubai's commercial business district in Deira, and by some estimates, approximately 10 tonnes of gold is present at any given time within its perimeters. The gold souk is worth visit even if you have no intention of buying, just to soak in the atmosphere of shop windows glinting with 18, 21, 22 & 24 karat gold. Over 300 retailers that trade almost exclusively in jewellery, and include both well-established brands like Damas, ARY Jewellery, Shyam Jewellery and Joy Alukkas as well as smaller stores that operate only in the souk.
The Gold and Diamond Park is located on Sheikh Zayed Road, and houses 90 leading jewellery retailers in air-conditioned comfort. Even though there are fewer stores here than at the Gold Souk, many of these offer hard to find designs in specialty shops as well as leading artisans who can craft custom jewelry to a customer’s specifications.