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Each shop window in the Gold Souq is crammed with all sorts
of exotic gold necklaces, bangles, ear-rings, brooches, rings etc. It is unbelievable!
Prices are very competitive. Remember, Dubai is a tax-free country, making gold much cheaper. Dealers come here from around the globe and strict regulations are followed.
Gold prices are based on a standard rate per gram that changes very frequently. Of course, it also depends on the carat.....the amount of gold in the mixture. This falls into four categories...22, 18, 14 and 9. There is also 24 carat pure gold available at a slightly higher price than 22 carat gold. If 22 carat gold was 75 Dirhams per gram at a particular time, then 18 carat gold would be around 60 dirhams per gram and 24 carat gold would be 80 dirhams per gram. This gives a general guide to expected price differentials.
All gold must be labelled accurately and Government officials regularly check the markings. Dubai has stringent laws on gold markings. On top of this, price also depends, quite naturally, on the workmanship that has gone into a particular item.
The Gold Souq is the biggest gold market in the U.A.E. There are said to be more than 125 shops here, selling silver, pearls, diamonds and rubies, as well as gold items fashioned in the differing styles of many countries.
Different shops specialise in specific kinds of gold items, such as Indian gold, Italian gold and Arabic gold. The best Arabic designs come from Bahrain and Saudi Arabia, but designs of all tastes and fashions can be found here in the gold souk.
The souks carry everything that can be made from gold, but if there is some personal design you cannot find, they will make it for you. These are very highly skilled craftsmen and always keen to make a sale and to please the customer.
Most of the gold salesmen are either Indian or Lebanese. They are very experienced at persuading tourists to part with their money.
Remember, it is essential and expected to haggle over a price.
It is best to start at around half the asking price and to haggle or bargain with a smile!!