Dubai Gold Souk is the name of the gold market located in Deira district of the city. This gold market is famous all over the world because it consists of almost 300 jewellers that deal in different and unique gold jewellery pieces. The well known traders in Dubai Gold Souk include names like Damas, Shyam jeweler, ARY and Joy Alukkas. This market is the most famous gold market in whole Dubai because it caters the needs of all type of gold lovers. According to a research, this market contain almost 10 tons of gold at any time they been visited. This gold market was initiated in 1940s because of the policies of Dubai that favored free trade. Many jewelers and gold trader from Asia were encouraged to open their outlets in this market to promote gold trading in the city. This gold market provides all kind of gold ornaments made by 22 or 24 carrots of gold. Tourist and local people like to visit the Dubai Gold Souk because it offers variety and guarantee of ornaments made from pure gold.
Famous gold dealers in Dubai Gold Souk offer Black Friday deals every year: There are many international and local gold dealers that trade gold and other precious stone, metals in Dubai Gold Souk. Some of the well known brands and their history are given as
• Damas jewellers are the leading international gold retailers in Middle East. They have almost 15 retailers in the Dubai Gold souk jewellery and mostly deal branded gold ornaments and watches. This company shifted its operation to the Middle East in 1955 and since then it has expanded its operations across 12 countries of GCC. Apart from gold, they also deal in precious and semi-precious luxurious items and also in diamonds, gemstones and pearl.
• Prima Gold jewellers is another leading gold retail brand located in Dubai Gold Souk. This company was established in 1994 to offer 24K gold ornaments. This company deals in 18k, 24k gold jewellery and also offer ornaments made of silver and diamond.
The Dubai gold market is the most favorite destination for gold lovers. This market started off with few gold dealers, but now has almost 300 local and international gold brands. The shops in this market are designed in L shape and are regularly refurbished to meet the international standards. Moreover, while renovation the Arabic culture and souk designs are also kept in mind. The Dubai gold souk Jewellery market has narrow streets and wooden roof tops provided with big fans, so the visitors don’t feel the pressure of heat while shopping. Many international gold retailers like to have a shop in Dubai Gold Souk because of the security and safety provided by the region. Furthermore, each outlet in this market offers unique variety and designs of gold to their customers. The gold trading is this market is administered by DMCC (Dubai Multi Commodities center).