The World’s Largest Traditional Gold Market

Dubai Gold Souk is the world’s largest traditional gold market. It is also known as Gold Souk. It is situated in Dubai, United Arab Emirates. It lies on the north of the biggest fish and vegetable market of Dubai. It is a traditional market and one of the oldest gold markets in the world. More than 300 gold retail shops are in doing business here. They deal mostly in jewellery. Business of raw gold is also carried in the market. Streets of the market are alive with local people and tourists. Mostly woman are found in the market. Gold rates in Dubai Gold Souk are cheaper as compared to other gold markets of the world. People from other countries visit UAE just for purchasing gold particularly. Gold of this market is considered to be of the finest quality. Big investors from Iran, India and Pakistan have started their setup here.

Retailers in Dubai Gold Souk are offering a variety of designs and brands. Mostly they deal in brands such as Damas, ARY Jewellery, Prima Gold and Joyalukkas jewellery. Precious and unique stones are also easily available at very affordable and decent rates. Stones as well semi-precious gems like diamonds, rubies, emeralds, opals, amethysts, sapphires and many others are traded in the market. Gold colour is same worldwide but in Dubai Gold Souk, you will find gold of green, white, pink and yellow colour also. It is really amazing and most of the people haven’t seen gold of these colours. You will also find countless designs of necklaces, bracelets, bangles, rings and earrings. You can also order the design of your choice. Special offers and concessions are given to the customers who purchase gold in bulks.

Gold is an asset. People preserve gold for the future. They wait for that particular moment when it can be sold at best rates. The significant feature of Dubai Gold Souk is the cheaper prices of gold as compared to other markets. Investors from all over the world purchase gold bricks in bulks from the market at low rates. They go back to their countries and sale out gold at healthy rates. Gold prices internationally depend on the availability of gold and prevailing prices in Dubai Gold Souk.

Dubai is a tourist resort. People from all over the world visit Dubai frequently for official and business tours. Dubai Gold Souk is a very old gold market in Dubai. Few retailers from Middle East started their business as a gold retailer in this area. Later on, few other local retailers joined them and gradually it converted into a full traditional gold market of Dubai. It gets its official name as Dubai Gold Souk from regulatory authorities of Dubai.

As the time passes, Dubai Gold Souk becomes a centre of gold worldwide. Gold business in the world started in 1924 as a full time trade. Friendly and free trade policies of Dubai authorities has played a vital role of to make gold trading a full time business all over the world. Dubai has become the largest buyer and seller of the world according to a survey made in 2010.

Related posts