The opportunity to indulge in shopping, particularly for gold and diamond jewelry, draws millions of tourists to Dubai each year. The UAE’s gold souqs are well known for their extraordinary selection and top-notch quality. Demand significantly increases during wedding and festival seasons, and people with South Asian ancestry—both locals and visitors—contribute significantly to the industry’s overall sales.
Numerous gold and jewelry stores can be found in Dubai’s renowned Gold Souk and shopping centers, which sell the precious metal in three different categories: 22K, 21K, and 18K. However, only 24K purity gold bars are offered for sale.
In addition to the current gold prices, jewelers charge their clients making fees. Smaller ornaments typically have fixed making fees, while larger jewelry items have to make fees that are calculated per gram and start at just four percent for larger pieces.
You Can Follow These Tips To Buy Gold At The Most Affordable Prices In Dubai:
Research Market Prices: Keep up with the gold market’s current prices. Keep an eye on the costs to spot any potential changes or decreases.
Shop at the Gold Souk: Go to the Dubai Gold Souk, a renowned marketplace renowned for its wide array of gold retailers. To get the best price, compare the prices and services being offered by various vendors.
Bargain and Negotiate: Never be afraid to haggle with the vendors, particularly at the Gold Souk. Negotiating is a common practice, and you might be able to get a better deal that way.
Consider Local Jewelers: In Dubai, look into independent jewelers, especially those not housed in upscale malls. Given that these jewelers have lower overhead expenses than upscale establishments, they might provide competitive pricing.
Purchase 22K or 21K Gold: Instead of higher purity levels like 24K, choose 22K or 21K gold. Lower purity levels can still provide high quality while being more cost-effective.
Avoid Tourist Areas: Buy gold away from touristy areas where prices could be inflated. Explore your neighborhood’s markets and less well-known stores to find potential better deals.
Buy Gold in Bulk: If you plan to buy a sizable quantity of gold, find out about wholesale or bulk prices. Discounts may be available for larger purchases at some jewelers.
Be Mindful of Making Charges: Take into account the making fees charged by jewelers, as these can have a big impact on the final price. To save money, look for jewelers with reasonable or lower making fees.
Read more: Islamic New Year 2023: UAE is Anticipating Another Three-Day Holiday
