Dubai Gold Souk Guide: Prices, Timings, Metro and Tips

The Dubai Gold Souk in Deira is the city’s oldest and busiest gold market, with more than 380 retailers along a covered lane near Dubai Creek. Every shop prices the metal from the same daily rate, so the real differences are in making charges, design and how well you negotiate. Here is what to know before you go, with today’s rates.

Gold Souk prices today

Souk jewellers do not set their own gold price. They quote the day’s Dubai rate per gram for the karat, then add a making charge and 5% VAT. The live rates below follow the same international spot price the shops work from.

All prices in AED. Indicative reference rates from the international spot price at the fixed AED peg of 3.6725. Making charges and VAT are added by retailers.

Small gaps against a shop’s board come from timing and rounding, because the rate moves during the day. A difference of a dirham or two per gram is normal. A gap of ten dirhams per gram on the metal itself is not, and is worth questioning.

What a souk price is made of

1. Metal value: the weight in grams times today’s rate for the karat.
2. Making charge: the labour and design fee, quoted per gram or as a total. This is the part you can negotiate.
3. VAT: 5% on the jewellery total. Visitors can reclaim most of it at the airport.

Ask for all three on the invoice. The way the metal rate itself is built is explained in how the gold price is calculated.

Metal value for common weights

Before you ask for a quote, it helps to know what the gold alone is worth at the weights shops sell most.

Where it is and how to get there

The souk sits in the Al Ras area of Deira, on the north side of Dubai Creek, a short walk from the Spice Souk and the Deira Old Souk abra station. The main entrance is off Sikkat Al Khail Street.

The traditional abra crossing costs one dirham, and it is the most scenic way in.

Opening hours and the best time to visit

• Most shops open around 10am and close around 10pm, Saturday to Thursday.
• On Friday many shops open only in the afternoon, after midday prayers, then stay open into the evening.
• Hours vary by shop, and change during Ramadan, when many open later and close late into the night.

Weekday mornings are the quietest, with more attention from staff and more room to negotiate. Evenings and weekends are the busiest. In summer the evening is more comfortable, since the lane is shaded but open to the heat.

What you can buy

• 22K jewellery is the souk’s staple, from light chains to heavy wedding sets, much of it in Indian styles. See the 22K gold rate in Dubai.
• 21K jewellery is the traditional Gulf karat, popular for bangles and bridal sets. See the 21K rate.
• 18K jewellery is used for most diamond and gem set pieces and for Italian style designs. See the 18K rate.
• 24K bars and coins run from 1 gram up to the 10 tola TT bar and 1 kg bars at bullion counters. See gold bar prices.
• Custom work such as name pendants, resizing and redesigns is offered by many jewellers, often within a few days.

The Gold Souk, the Extension and the Gold District

The historic lane is now part of a much larger gold quarter.

• Gold Souk Extension: an air conditioned indoor extension beside the old souk, opened by the developer Ithra Dubai in 2022.
• Dubai Gold District: launched by Ithra Dubai in January 2026 as a wider district around the souk. It brings retail jewellery, bullion trading, wholesale and related services together, with more than 1,000 retailers across jewellery, gold, perfume and lifestyle. A Gold Street is being built as its centrepiece.

Prices work the same way in all three. Only the setting, the mix of shops and the crowds differ.

Gold Souk or somewhere else?

For the quieter alternative on Sheikh Zayed Road, see our Gold and Diamond Park guide.

How to buy gold at the souk, step by step

1. Check today’s rate for your karat on this page before you walk in.
2. Choose the piece, then ask for its weight and karat. The shop should weigh it in front of you.
3. Ask for the price split into metal, making charge and VAT.
4. Negotiate the making charge, not the gold rate.
5. Check the karat stamp: 999 for 24K, 916 for 22K, 875 for 21K, 750 for 18K.
6. Get an itemised tax invoice showing weight, karat, rate, making charge and VAT.
7. If you are a visitor, ask for a tax free tag at the till so you can claim the VAT back at the airport.

How to bargain on making charges

Making charges vary widely. Simple machine made chains carry a small charge per gram, while handcrafted and designer pieces carry much more. That spread is where the souk’s reputation for good deals comes from.

• Ask for the making charge per gram, so you can compare shops on the same basis.
• Get quotes from two or three shops for a similar piece before deciding.
• Heavier purchases usually earn a lower charge per gram.
• Walking away politely is normal, and often brings a better offer.

Test any quote with the making charge calculator, and see typical ranges in our making charges guide.

Checking purity and keeping the paperwork

Reputable souk jewellers sell hallmarked gold and stamp the karat inside rings and on clasps. If a piece has no stamp, ask why before you buy. Our purity and hallmark guide explains each mark.

Keep the invoice. You need it for the tourist VAT refund, for customs when you fly home and for a stronger position if you sell the piece later.

Avoiding common problems

• Street touts in the lanes offering copies of branded watches and bags have nothing to do with the licensed jewellers. Ignore them.
• Never accept a price without a weight. A total without grams cannot be checked against the rate.
• Ask whether stones are included in the weight. Gem weight should not be charged at the gold rate.
• Pay by card, or get a proper receipt for cash.

Tax refund and carrying gold home

Many souk shops take part in the tourist tax refund scheme. Ask for the tag when you pay, then validate it at the airport before check in. See the tourist VAT refund guide and estimate the amount with the VAT refund calculator.

Flying to India? Check the allowance first in our guide to how much gold you can carry from Dubai to India.

A short history

Gold trading along the creek goes back to the 1940s, when merchants from India and Iran set up shop near the dhow wharves. The market grew with Dubai’s boom in the 1970s and became a draw for visitors in its own right. Around 10 tonnes of gold is often said to be on display at any one time.

The souk is also home to the Najmat Taiba, recognised by Guinness World Records as the world’s largest gold ring. It is made of 21K gold, weighs almost 64 kg and is set with about 5.1 kg of stones.

Make a day of it

The Spice Souk is next door, the Deira Old Souk runs along the creek, and an abra ride across the water takes you to the Bur Dubai side. Visiting in the morning, then crossing the creek for lunch, avoids the evening crowds.

Frequently asked questions

Is gold cheaper at the Dubai Gold Souk?

The metal costs the same across Dubai, because every shop prices from the same daily rate. The souk is often cheaper overall because making charges are lower and more negotiable than in malls.

Can you bargain at the Gold Souk?

Yes, on the making charge. The gold rate per gram is not negotiable, but the labour charge is, especially on heavier pieces.

What are the Gold Souk timings?

Roughly 10am to 10pm from Saturday to Thursday, and from the afternoon on Friday. Individual shops vary.

Which metro station is closest to the Gold Souk?

Gold Souq and Al Ras stations on the Green Line, both a short walk away.

Can tourists get VAT back on gold from the souk?

Yes, at shops in the tax refund scheme. Ask for a tax free tag when you pay and validate it at the airport before you leave.

Is gold from the Gold Souk genuine?

Licensed souk jewellers sell hallmarked gold with a tax invoice. Check the karat stamp, watch the weighing and keep the invoice.