Important points when buying gold and jewelry in Dubai

Dubai, as one of the most prestigious gold and jewelry shopping destinations in the world, offers a wide and varied selection for those interested in this industry. If you are planning to buy gold and jewelry in Dubai, here are some important tips that can help you make a successful and cost-effective purchase. Stay with Phil Mag.

Important points before buying gold and jewelry in Dubai

Getting to know the market and reputable stores

Before buying gold and currency in Dubai, it is better to familiarize yourself with famous markets and reputable stores in Dubai. Dubai Gold Souk in Deira is one of the most famous gold shopping destinations in this city. Also, prestigious international brand stores and luxury jewelry in major malls like Dubai Mall and Mall of the Emirates give you more options.

Checking the authenticity and quality of gold

When buying gold, make sure that the pieces purchased are certified for authenticity and quality. High quality gold usually has a standard mark and certificate of authenticity. These marks include the amount of gold (for example, 24 karat) and the seal of the brand, which assures you that the gold is pure and original.

Knowing the market prices

Getting to know the daily prices of gold and jewelry in Dubai can help you benefit from better prices. Online platforms and daily gold price reports can be a good source of up-to-date rates.

Also, note that prices may vary from store to store, so comparing prices will help you find the best deal.

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Attention to after-sales service

Buying gold and jewelry is not only related to the purchase of the product but also to the after-sales service. Ask the seller for information on return policies and repair services. Some stores offer free repair or adjustment services after purchase, which can be useful for you.

Accuracy in taxes and expenses

Be aware of additional fees, such as taxes and service charges, before finalizing your purchase. Some stores may add additional fees to the final invoice, which you should pay attention to.

Where is the Dubai Gold Souk?

The Dubai Gold Market is located in the Deira area, next to the Dubai Fish and Vegetable Market. This area, known as part of "Old Dubai", is easily accessible via the Al Ras Metro Station. To make sure you buy from reputable stores and not street vendors, you should know that Dubai Municipality inspectors regularly visit this market. They carefully check the scales and send the gold and jewelry samples to the laboratory for the necessary tests.

Deira gold market working hours are from 10:00 am to 10:00 pm. On Fridays, the market starts at 16:00 after evening prayer. Note that evenings are usually busier than mornings.

The best time to visit the gold market is usually between September and May, when the temperature is milder and the weather more favorable. During this period, demand for buying gold increases and prices may be higher. To buy gold at a more reasonable price, it is suggested to plan your trip in other months of the year.

Pricing guide and tips for buying gold in the Dubai Gold Market

In the Dubai Gold Market, gold prices are displayed daily on notice boards and in stores. These prices include gold rates for carats of 24,000, 22,000, 21,000 and 18,000 dirhams per gram. Gold is sold based on weight and according to the daily market price, and the production fee is added to it.

To shop smart, it is recommended to always haggle on prices, as sellers may offer higher prices initially. While the price of gold is non-negotiable due to its weight, there is a significant reduction in manufacturing cost. Since similar gold is available in many stores, take your time to compare and shop around.

Credit cards are accepted at this market, but usually paying in cash can lead to more discounts. Also, note that gold prices in the Dubai market change on a daily basis, so be sure to check the daily price before buying.

Value Added Tax (VAT) is charged at the rate of 5% on jewelry purchased in Dubai. However, tourists can use the tax refund scheme for tourists and get 85% of the tax paid back at the airport. So, look for tax-free stickers in shop windows and ensure that the sales receipt with the tax refund sticker is presented at the airport.

Guide to accessing the Dubai gold market:

1. Going to Dubai gold market by metro

To reach Deira gold market by metro, Al-Ras station is the closest station to the market and it is only a 10-minute walk away. Also, Baniyars Square station is also an option close to the Dubai Gold Market. At any of these metro stations, you can ask locals for directions; Because this place is well known for its popularity.

2. Going to Dubai gold market by bus

To use RTA buses to reach the Dubai Gold Market, you can board one of the C07, C09 or C28 buses.

3. Access to the Dubai Gold Market by taxi, UBER or CAREEM

To go to Dubai Gold Market by taxi, you can use UBER or CAREEM taxi services. These applications allow you to easily and quickly book a taxi and take you directly to your desired destination.

Conclusion

The Dubai gold market has become an ideal destination for buying gold with its wide variety and attractive prices. Whether you are looking to invest in gold or looking for special jewelry for yourself or your loved ones, Dubai offers you many opportunities. By considering the important points and knowing the rules related to gold import, you can have a successful and satisfactory shopping experience in this beautiful city.

Frequently asked questions

+ Can tourists buy gold in Dubai?

Yes, tourists can buy gold in Dubai. Dubai is a popular destination for buying gold due to its large amount of gold and attractive prices. However, the amount of gold that can be purchased depends on the laws of the tourist's country of origin, as each country has restrictions on the import of gold from its travelers.

+ Does the Dubai gold market offer a wide variety of jewelry?

Yes, the Dubai Gold Bazaar is famous for its incredible variety of jewelry. In this market, you can find a wide range of jewelry that includes gold, silver, diamonds and other precious stones. In addition, various types of designs and styles, including traditional, modern and international designs are also available in this market. This variety allows you to have many options to choose from according to your taste and budget.

+ Is the price transaction in the Dubai gold market negotiable?

Yes, it is usually possible to negotiate prices in the Dubai gold market. To succeed in bargaining:

1. Knowing the daily price: increase your bargaining power by knowing the daily price of the market.

2. Knowing the types of gold: Get to know the types of carats and weights of gold so that you can negotiate better.

3. Try for a discount:Offer a 25% discount and see if the sellers agree to it.

4. Compare prices:Check different shops to find the best prices.

+ What other things besides jewelry are available in the gold market of Dubai and its surroundings?

In addition to jewelry, you can find the following items at Dubai Gold Bazaar:

1. Jewelry: All kinds of jewelry including bracelets, necklaces and earrings with various designs.

2. Minakari artworks: Minakari art with beautiful and unique works prepared in a traditional and artistic way.

3. Deira Perfume Bazaar: Near the Gold Bazaar, Deira Perfume Bazaar is located, which includes a collection of perfume shops. Here you can find international brands and local perfumes, and even specialty perfumes with expensive resins and incense. Some shops also provide the possibility of making a custom perfume with a combination of different essential oils.

4. Dubai Spice Bazaar: Just a few steps away from the Gold Bazaar is the Dubai Spice Bazaar. Here you can buy colorful and aromatic spices and enjoy watching this variety. Bargaining is also common in this market.

These attractions and markets around the Dubai gold market make your shopping experience diverse and attractive.