Not for nothing is Dubai known as “The City of Gold.” Its illustrious skyscrapers, big shopping malls and palm-shaped islands make the city dazzle but dig a little deeper and you will find that fishing, pearl diving and boat building made its name from the 16th century onwards. The city’s role as a trading hub for the exchange of gold, textiles and spices also grew its reputation well before the discovery of oil.
Fittingly then the gold trade lives on in a corner of the city known as the Gold Souk (or “souq” which means traditional market in Arabic). It’s a must-visit on any traveller’s itinerary and the labyrinthine alleys are home to over 380 retailers selling gold, platinum, diamonds and silver. Here’s our guide to everything you need to know about the Gold Souk.
The marketplace in Deira was established in the early 1900s, well before the formation of the country known as the United Arab Emirates, but it was only around the 1940s that the trade in gold and precious metals really began. This was due to the thriving Arabian Sea trading route which encouraged Iranian and Indian merchants to set up shop.
When the country became an official entity in 1971, the Dubai Gold Souk was caught up in the rapid transformation of the emirate and gained its iconic status during the successive decades. Some shops have been handed down from generation to generation so it won’t be uncommon to meet shop owners who will regale you with tales about their forefathers from back in the day.
Since the wares are regulated by the government of Dubai visitors should rest easy about the authenticity and quality of the products and focus instead on getting the best deal. The going rate of gold is displayed prominently outside and inside the shops but haggling is common here so test your bargaining skills. The prices of gold and precious stones (such as emeralds and rubies) are some of the lowest compared to most other nations and trading is mainly done in gram and 24-karat units. Necklaces, pendants, bangles, bracelets, rings and earrings are snapped up eagerly by customers.
Visitors can request custom pieces. Malabar Gold and Diamonds, Pure Gold Jewellers, Damas Jewellery and Kanz Jewels are some well-known names but look out for the smaller stores tucked away in little alleys for the best deals. Whether you are looking for modern designs or traditional Arab jewellery, you will find it.
There are tours aplenty which take visitors around the many souks of the city so book one if you want to learn more about the history and culture of the area. The best time to visit is from 11AM onwards as it is less busy than the throngs filling the streets at night but sunset shopping has its own charms. Most shops open by 10AM and wrap up by 10PM.
Just a three-minute walk away is Dubai's Spice Souk where travellers can check out a range of spices and herbs in colourful settings. The Perfume Souk is a five-minute walk and has enticing aromas in the air. You will learn about the differences between oud and bakhoor. The Women’s Museum in Bait Al Banat features Emirati women who have played an integral role in shaping the rich history of both Dubai and the UAE. Hire a water taxi at the Deira Old Souk marine station and cross over to the Al Fahidi marine station to explore the Al Seef area.
It’s best to hire a taxi or hop on the metro to reach the Gold Souk as parking is a pain. The closest metro stations on the Green Line are Al Ras and Gold Souq.
