Gold is on the shopping list for many travellers to Dubai. The UAE is one of the world's largest importers and goldsmiths in Dubai do not have to pay any taxes on their purchases.
As a buyer, you are not subject to any taxes either, so you get the gold at market price. That's why gold is high on the shopping list for most visitors to Dubai, with tourism authorities saying that as many as 95 per cent of people travelling to Dubai buy the precious metal back home, in some form.
The quality is high. Most of the gold sold in the gold souk is at least 22 carats and the risk of being tricked into buying fake gold is low, as the authorities' controls are strict.
Some things to consider:
- The gold standard we have in Sweden is redder than the gold colour in many other countries, which means that the gold jewellery you buy in Dubai is significantly yellower than gold jewellery bought in Sweden.
- The fact that the gold in Dubai is of a higher carat than in Sweden - the Swedish standard in jewellery is 18 carat and in Dubai it is 22 carat - means that the metal is softer.
- According to Swedish customs rules, you must pay tax on imports of goods exceeding a value of SEK 4,300. Whether you do or not is up to your conscience.
Caution when buying gold in Dubai
The most important thing to remember is to bargain when buying a piece of jewellery or other item made of gold. Because even if the price of the commodity is fixed and follows market rate the smiths will always overcharge for their work. Because that's where they make their margins.
The best thing you can do is to negotiate only the price of the work (making charges), not the total amount. This shows that you know what is involved and gives you the best chance of getting the best possible price.
If you feel that the price is not what you expected, move on. There are around 700 shops in the souk to bargain in. Or try walking on - you'll probably get a much better price as soon as you turn your back and start walking.
Cash is king
You can pay by card, but for the best bargain, cash is preferred. If you don't want to carry large sums, you can withdraw cash from an ATM after you and the seller have agreed on the price.
Best selection during the festivals
For the best selection of jewellery, visit Dubai during the winter Dubai Shopping Festival or Dubai Summer Festival, when the stores launch new collections. But at the same time, prices are highest during these weeks. The best bargain period is during the off-season, outside the festival weeks.
Experience the Gold Souk with a guide
If you want advice from someone who really knows Dubai, you can visit the Gold Souk with a guide. The Gold Souk is included in several sightseeing tours that we highly recommend.
One example is the Dubai Culture Tour, a four-hour guided tour that, in addition to the Golden Souk, also visits the Dubai Museum, Dubai Mall and the Bait Al Banat Women's Museum.
" Read more and book here
Another is the guided shopping tour that takes participants to the Gold Souk, the Spice Souk and the Al Karama where counterfeit goods are sold.
" Read more and book here
Film from the Gold Souk in Dubai
The footage is a little shaky, but gives a sense of what to expect from a visit to Dubai's gold market.
Tips! Book attractions and excursions in Dubai
Heading to Dubai? Book tickets for attractions and excursions, safely and quickly through our partner GetYourGuide. Below are some suggestions and here you will find everything you can book in Dubai.
(Page updated 2018-09-06.)
For my daughter's savings, I want to buy 50 grams of gold for her, because gold will still have its value in 10 years and the Swedish krona will not, so I invest in gold for her. how much in Swedish money can I pay for 50 grams of gold in Dubai?
I live in sweden .but I want to buy gold where can I buy .
also heard that gold is cheaper in dubai. I first read this above, and then this article: http://www.aurumforum.se/nyheter/aedelmetaller/22/planerar-du-en-guldresa-till-dubai
so shopping for gold there seems pointless, possibly jewelry then, but sad if you are not satisfied..
Isn't it common for gold to be "diluted"? Read it somewhere, don't want the ring to break! 🙁
Hello AlltOmDubai 🙂
I have a question I am going to Dubai next week and was wondering how much the current gold price is per gram because I am having trouble finding it online! :/
And question 2, is there any particular good place to go to buy spices for example?
Planning to travel to Dubai after New Year with family, exciting. However, I am very unsure where to stay! We want to be able to swim and sunbathe on a nice beach during the day and go shopping in the evenings. The family would like a pool and I want it to be clean and tidy and not in the middle of the airport :o) we have a hotel budget of 15,000 max (two weeks) Do you have any suggestions for hotels? Or which area not to book a hotel in? Thank you very much in advance and best regards/ Camilla
how much does a gram of gold cost in dubai. how much gold can you take through customs?
No dates have been set for the winter shopping festival, but there is every indication that it will start on 3 January.
Going for the first time to Dubai Oct/Nov , it is written about winter shopping festival.
When does it happen?
i wonder how much they sell a gram of gold in dubai or a gram can become dollars