If you’re in Dubai, a visit to the Gold Souk is a staple on the list of things to see.

Well known as one of the safest and cheapest places in the world to buy gold, people from all over the world flock here to buy gold jewellery, gold coins, gold bars, gold decorations, and pretty much anything made of gold you can imagine.

I spent a day at the gold souk on my last visit to Dubai and wandered as many stores as my legs would allow, and then bought myself a little something to take home as well.

Let me take you through everything you need to know, so whether you’re going on a gold shopping spree or just taking in the golden sights, you won’t be left cluelessly wandering the alleys wondering what’s going on!

How To Get To The Gold Souk

The Gold Souk is located in Deira.

It’s an area of Dubai that’s known for cheap shopping and restaurants, situated near the airport. You can easily get their by car, taxi, or using the public metro (take the Green Line to the Al Ras or Gold Souq metro stations. It’s a short five minute walk from either one).

However you decide to get there, you want to be heading towards the “Dubai Gold Souk” on Google Maps.

There are many entrances to the souk (technically souks – plural) which won’t be hard to find once you get into the general area.

All should be signposted and so just keep your eyes open and follow the map!

What Can You Buy At The Gold Souk?

For luxury lovers, the gold souq is a little Disneyland.

There are so many things you’d never imagine could be made of gold, from shoes to homewares to full sets of clothing.

Of course, most places still focus on the standard jewellery items like necklaces, rings etc.

In the main souq, you’ll find the higher priced stuff, which includes everything from basic jewellery to royal style decorations and adornments.

What most people don’t know is while there is an “official” gold souk, the entire area is a gold trading area, so there are other malls and souks in the surrounding blocks that are also great places to shop for gold.

The main souk will have the most reputable brands, and the biggest crowds too.

So, once you’ve exhausted the gold souk and still want more, keep exploring! There are many gold traders in the area worth checking out.

How To Buy Gold At The Gold Souq?

Almost all the shops in the Gold Souk follow the same system.

First, you have the price of gold. This is standard and you should be able to see it published on screens around the souq.

You can see there are four different prices here, which relate to the different purities of gold.

• 24 carat gold is the purest, but also the softest, so it’s generally not recommended for everyday jewellery.
• 22 carat gold is the next purest. This means it’s mixed with a small amount of other alloys like copper or nickel to make it harder and less malleable.
• 21 carat and 18 carat golds are mixed with higher amounts of alloys to make them even tougher, but obviously this brings purity down even more.

Whatever type of gold you want to buy comes down to your own intentions and preferences.

If you want gold as an investment you might prefer 24k gold, but for a ring or bracelet that might get knocked around a bit, 21k or 18k might be more suitable.

The next step is to determine the weight of whatever you’re buying, because that will determine the price!

Every item for sale will be based on weight, and this weight is usually printed on the item label.

For example, here’s a gold chain I ended up buying which you can see has a weight of 4.42 grams:

You can also see on the tag this is 22k gold. At the time the rate was 286 AED ($78 USD) per gram.

This means for the gold only, the cost would be 4.42 grams x 286 AED per gram = 1,264 AED.

The next component of the price is the maker’s fee.

A maker fee is exactly what the name suggests – it’s the markup the jeweller adds for time and labour to actually make the item into a bracelet or necklace or whatever you’re buying.

For this particular jeweller, the maker fee was 9.9%, which came out to 125 AED.

The final part of the price is your VAT, which in Dubai is 5% (you can get this refunded at the airport when you leave).

This gives a final price of 1264 + 125 + 70 VAT = 1,458 AED or $397 USD.

All the prices are negotiable, but in reality 4g is a pretty small item and these shops are used to dealing in hundreds or even thousands of grams. So for a maker fee of 125 AED ($30 USD) don’t expect to shave off too much!

For example on this item I got him to bring his maker fee down from 125 to 100, which wasn’t too hard. He probably would have gone for 75 if I’d really pushed him for it.

This is the general process for building most things in the Gold Souk, unless you’re buying an exceptional amount of gold or a very intricate piece which might garner you some special treatment.

Zero Maker Fees?

Yes! You can find places with zero makers fees, meaning you’ll only pay for the price of gold and VAT.

These places get their gold at wholesale discounts and make very basic jewellery, so their business is all about big volume.

Why didn’t I buy something with zero maker fees?

Well, after spending several hours looking at zero-maker-fee jewellery, you can tell the design and craftsmanship is lower quality.

After I got the quote for the chain I showed above, I actually went and looked at maybe a hundred chains with zero-maker fees in many different shops, and none of them were as nice. To me it was worth paying $30 extra to get a better-made item, so I ended up going back and buying that one, even though that hadn’t been my plan.

I think most people feel this way, because the zero-maker shops aren’t really that common – there are a few but maker fees are the norm definitely.

However, if price is the biggest factor then the zero fee spots are definitely what you want. It’s the cheapest gold you’ll find here. The Gold Center is a good place to start for zero-maker stores, just a few minutes walk from the main Gold Souk entrance.

Is the gold real?

The only way to know if your gold is real is to have it independently tested.

There are places to do that around the Gold Souk, but even better would be to have it tested at a jeweller or lab back home.

However, there’s a reason the Dubai Gold Souk is one of the most popular places in the world to buy gold.

Not only are the prices among the lowest, but the reliability is also world-renowned.

The Dubai gold trade is extremely heavily regulated by the UAE government, as places like the Gold Souk are important to their economy and reputation. Agents regularly spot check stores at random, testing some of their stock at labs to make sure it’s genuine gold. Anyone selling fake gold is harshly punished. Obviously all fake gold selling is illegal, and police take complaints seriously.

A friend of mine who’s a well-known businessman in Dubai for over a decade explained to me – it’s not worth trying to sell fake gold in the Gold Souk, as if you’re caught the punishment is so severe that you’d be stupid to even attempt it. On the black market might be a different story, but for official stores in the souq it’s nearly unheard of. There’s a reason it’s one of the busiest gold markets in the world.

However! That doesn’t mean you can’t get scammed or end up with fake gold. But with a bit of common sense, you should be able to shop confidently. Here’s how to ensure you don’t get scammed at the gold souk:

• Only buy from official storefronts! Don’t let touts convince you to go wandering down back alleys to hidden or “secret’ stores, no matter how good their prices sound or how good their jewellery looks.
• Don’t use middlemen! There may be individuals who offer to show you the “best” spots. Kindly decline and insist you want to shop alone.
• The magnet test – if you want to be double careful, you can ask for a magnet, or carry one with you. Real gold is not magnetic, but many other alloys are, so if it attracts to the magnet, it’s fake (not foolproof, but useful). Genuine store owners will have no problem doing this test for you. Remember – make sure you do it before you take the item out of the store.
• After you agree to buy an item, don’t let it out of your sight while they package it. Insist they package it in front of you so it’s not switched.
• Always make them weigh it in front of you before you pay. Don’t trust the weight on the price tag.

And most importantly – have fun!

Shopping at the gold souk is a unique experience. Even if your budget is low or you can’t afford to buy anything, just enjoy yourself. You can have just as much fun watching people shop and haggle and seeing the odd and wonderful things they buy. This is Dubai!

Heading to Dubai?

Need a cheap flight? I use Kiwi! Best prices, great support.

For travel insurance, I always use World Nomads – get protected for just a few dollars a day!

Somewhere to stay? Booking.com gives you the biggest selection and the best rates.

You might also want to check out my Where To Stay In Dubai Guide. It will break down all the major areas of Dubai to help you pick the perfect spot for your trip!