Dubai's Gold Souk in Deira is one of the largest gold markets in the world, with around 380 retailers selling everything from 18-carat Indian-style jewellery to heavy 22-carat Gulf pieces. The covered arcade runs for several hundred metres, and even without buying anything, the sheer quantity of gold on display — tens of thousands of items in window after window — is remarkable.
Prices are based on the international gold spot price (posted daily) plus a making charge that is negotiable. Bargaining on the making charge is expected; the gold price itself is non-negotiable. The souk also sells silver, pearls, and precious stones. It is open from around 9:30am to 10pm, with a break in the early afternoon for many shops. The adjacent Spice Souk, a five-minute walk away, is a good pairing.
story: > Dubai legally requires all gold sold in the emirate to be hallmarked and tested for purity — making it one of the most reliably honest gold markets in the world. In the 1970s, before the oil boom, gold smuggling from Dubai to India was one of the region's most lucrative trades; the dhow captains who ran the routes were known as the "gold runners of the Gulf."