Shopping for Gold in Dubai https://www.visitdubai.com/en/articles/gold-shopping-guide 20181204T164439 20181204T164439 20181204T164943:636795389832220189 Shopping Whether you're adding to an everyday jewellery collection, or splashing out on something for a special occasion, Dubai is one of the best destinations in the world for purchasing gold and fine jewellery. From its traditional souks to glossy luxury stores, the emirate is known for its beautifully crafted gold pieces.
Here we asked the industry insiders how to about the language of gold and what to look for. Discover what to look for when shopping for the world's most coveted precious metal Discover what to look for when shopping for the world's most coveted precious metal Whether you're adding to an everyday jewellery collection or splashing out on something for a special occasion, Dubai is one of the best destinations in the world for purchasing gold and fine jewellery.
From its traditional souks to glossy luxury stores, the emirate is known for its beautifully crafted gold pieces. We asked industry insiders about the language of gold and what to look for. All about karats A karat is the unit used to measure the purity of gold: the higher karatage signifying a purer gold.
The highest possible ranking is 24-karat gold, otherwise known as pure gold and most commonly sold in coins or bars as the metal is too soft for jewellery. Dubai jewellers most commonly use 22-karat for chains, bangles and plain rings, and the more durable 18-karat gold for diamond rings and other precious stone-studded pieces.
What determines price As a traded commodity, gold goes through constant price fluctuations, and that price makes up roughly 80 to 90 per cent of the final piece's price. Researching the metal's current price will give you a good base for your desired piece's market worth. Manjari Khatwani, of family-owned Khushi Jewellers (Al Fahidi Street, Bur Dubai; +971 4 351 1166) recommends consulting Dubai Gold and Jewellery Group (dubaicityofgold.com) first.
“Although retailers are free to set their own price, seldom will they vary from the published rates,” Khatwani says. Gold jewellery is then sold according to its weight, and a labour charge is added depending on the intricacy of the design.
Trust and purity Specialising in 22-karat gold jewellery in Arabic, Turkish and Indian designs, Amina Mohamad Ali from Zaiba Jewels (27 Al Daghaya Street, Deira; +971 4 226 4212) says that the city's eagle-eyed regulators keeps trade both fair and competitive.
“Dubai as a destination for gold is synonymous with trust and purity,” she says. “The industry here is governed by strict regulations and a code of conduct which provides transparency and protection to the buyer.” Heritage makes a statement In Dubai, designs with a cultural and heritage focus are sourced from around the world to cater to the wide tastes and expectations of a very global customer base. Zaiba Jewel's Ali is seeing a resurgence of more traditional and ethnic designs, which she identifies as stemming from a greater appreciation and respect for workmanship and heritage.
As one of Dubai's oldest family-owned gold retailers, dealing from their corner in Bur Dubai, Khushi Jewellers is used to handling requests from jewellery lovers across cultures. “We specialise in Polki, bridal, and Indian antique jewellery,” explains Khatwani. Indian antique jewellery is one of the most sought-after categories in terms of value as they exhibit such intricate craftsmanship and are popular with the pre-loved market.
Such pieces also have heritage appeal and are often expected to be passed down through generations. However, the Old Dubai store also stocks increasingly popular lightweight Singaporean, Malaysian and Turkish gold jewellery, designed for everyday wear. “During the Diwali (Hindu Festival of Lights) season, customers will purchase jewellery for auspicious or festive reasons, and these purchases will usually be lightweight pieces,” says Khatwani.
Karim Merchant, Group CEO and MD of Pure Gold Jewellers (pugold.com) reports that his group has also seen more demand for gold jewellery of a lesser weight, with delicate chains and slimmed down bracelets replacing the heavier rings and thick bangles, which gives customers a chance to select a design that won’t break the bank. Not that Dubai doesn’t see its fair share of extravagant purchases. Pure Gold Jewellers stock pieces valued at US$1 million, and among Zaiba's largest order was a 2kg gold necklace for a London-based client who wanted to make a gift to a temple.
The real thing Found your perfect piece? In addition to the itemised invoice, remember to request the digital authentication certificate – something Dubai gold dealers are obliged to provide on request – which will specify the karats of the gold, the weight of actual gold in the jewellery, the weight of the stones in the jewellery, and the cost of the labour for the jewellery.
With this, your new purchase can be authenticated and valued anywhere in the world. Discover Dubai’s leading gold jewellery stores at your nearest . 721
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As one of the world’s great gold trading hubs, there is no doubt that Dubai has some of the best gold shops in the world. When it comes to buying gold, be it bullion, bars or kilos, has a plethora of gold shops where you can indulge your passion for the much sought after metal. However, as with any investment, it makes sense to proceed with caution when investing in gold, which, in many cultures, traditionally serves as an alternative to putting money in the bank.
Experts caution that the fluctuating prices of gold are dependent on several unpredictable indicators including sentiments, governments buying and selling gold reserves and volatile equity prices. Therefore, as an investment, it is advisable to include gold investment as part of a more diverse portfolio rather than investing all your money into this single asset.
Since there are many options available to those wishing to buy gold in Dubai, the best advice would be to make sure that the shop you buy from is registered and that you check the current price of gold on the day of your planned purchase.
Gold prices can be checked via the Precious Metal Calculator. Gold in Dubai is sold on gold price plus making charges unlike many other parts of the world where it is sold per unit.
Making charges are not typically calculated as a percentage of gold prices, unlike elsewhere in the world, but is set as a flat rate. Generally, the more intricate the piece of jewelry, the higher the making charges. Purity of the metal sold in Dubai is strictly regulated by the Dubai Central Laboratories Department, which has implemented a voluntary quality management and certification scheme known as ‘Bareeq’ that gives recognition to shops that meet the good practice criteria for jewelry trading.
Know your Gold Gold Karats: Gold is typically available in 18K, 22K or 24K. The karats refer to the gold content or purity of gold. 24 karat gold is the purest form of gold available and most gold shops will hold select designs in 24 karat gold. These are typically heavier in design than 18k and 22k gold which are more malleable and therefore easier to craft into a variety of designs. 22k gold is 22 parts of gold and 2 parts of other metal alloys while 18k gold is 18 parts of gold with 6 other parts of metal alloys.
Gold colors: The purest form of gold, 24k has the richest and warmest yellow color, which cannot be changed unless the purity is reduced to less than 24k. Other colors of gold are made by altering the amount of alloy in the gold to achieve different tinges. Pink gold, for example, is made by adding a greater percentage of copper into the gold mix, while green gold is more of zinc and silver and white gold contains more nickel.
Best time to buy gold: The best prices and the largest selection of gold is usually available during the Dubai Shopping Festival or the Dubai Summer Surprises, when foreigners from across the globe come to Dubai to enjoy the special deals on offer during this time.
The best places to buy gold in Dubai have been listed below and are selected for the variety of selection on offer as well as the quality of jewelry available. The Gold Souk, Dubai The Gold Souk in Dubai truly demonstrates why this emirate has earned itself the reputation of being the city of gold. The sheer scale and variety of designs available on offer is staggering – bracelets, bangles, earrings, pendants and necklaces are available in white, pink, yellow and even green gold in unimaginable designs.
There are over 400 shops to choose from and the predominant style of jewelry available is Arabic and Indian styles with some European designs available as well. Additionally, the prices of gold here are amongst the cheapest found anywhere in the world as there is no VAT or tax applicable on the purchase of gold. Browse several stores before you decide on a particular design and don’t forget to haggle for the best possible price.
Ask for certificates where applicable. Also be aware that credit card purchases incur an additional fee in most shops. The Gold and Diamond Park Located on Sheikh Zayed Road, the houses 90 leading jewelry retailers located in an air-conditioned mall. Even though there are fewer stores here than at the Gold Souk, many of these offer hard to find designs in specialty shops as well as leading artisans who can craft custom jewelry to a customer’s specifications.
Shoppers can shop in the air-conditioned comfort of the mall, which also has several other amenities such as restaurants and cafes. Joyalukkas Well renowned for their commitment to quality and for the variety of designs available in their stores, has established itself as a popular destination for gold shoppers.
With stores in the Gold Souk as well as in many shopping malls in Dubai, this brand of jewelers carries bold and unique designs in trendy, modern and classical styles to suit everyone’s taste.
Damas One of the largest jewelry stores in Dubai, has a huge customer base of loyal customers drawn to their beautiful and unique crafted designs. Thousands of designs of jewelry are available in an Arabesque style with a contemporary twist to cater to the local market.
Damas Middle East has four types of stores to meet their customer’s demands: Lex Exclusive Stores offer high end luxury products, Semi Exclusive stores have a slightly lower range of stylish jewelry, while the Damas 22k and 18k stores offer trendy styles and designs at a competitive price.
Damiani An exclusive jewelry brand located in The Dubai Mall, this leading Italian brand is world renowned for its exquisite collection of superior gems and highly innovative designs.
, although best known for its stunning watch collection, also has some fabulous gold jewelry for the discerning customer who wishes to possess a unique piece of jewelry.
Ary Jewelers Offering sophisticated gold jewelry combined with pearls, diamonds and precious stones, offers a versatile collection of gold jewelry suitable for classical Indian wear or Western outfits.
They are also popular for their traditional bridal collections. Atlas Jewelry Established in the jewelry business for the last 30 years, jewelry caters predominantly to the large Indian . They carry a variety of designs, modern and chic as well as traditional and ethnic to suit the tastes of their large Indian customer base.
• • Metal color • Done All Gold-color Light Yellow Gold Color Pure Gold Color Silver Plated Rhodium Plated Light Yellow Color Imitation Rhodium Plated Antique Gold Plated Rose Gold Color Black Gun Plated Antique Bronze Plated Antique Copper Plated Platinum Plated Black Zinc Plated Blue Zinc Plated Blue White Zinc Plated Titanium Plated Antique Silver Plated Champagne Gold Pink
Big Gold Necklace designs at Dubai Gold Souk