Dubai Gold Souk

Coordinates: 25°16′18″N 55°17′55″E / 25.27167°N 55.29861°E / 25.27167; 55.29861
Source: Wikipedia, the free encyclopedia.
Dubai Gold Souk has narrow lanes that are lined with hundreds of jewelry stores.

Dubai Gold Souk or Gold Souk (

UAE. The souk is located in Dubai's commercial business district in Deira, in the locality of Al Ras. The souk consists of over 380 retailers,[1] most of whom are jewelry traders.

Dubai Gold Souk entrance

As of 2020[update], some of the shops are four decades old, while others are new.[2] The major items that the mall deals in are gold, platinum, diamonds and sometimes silver.[1]

Dubai Gold Souk is bordered to the north by the Dubai Fish and Vegetable Market and the Deira Corniche near Baniyas Square at Sikkat al-Khali Street which is in close proximity to the Deira Bus Stand. On the other side of the Dubai Creek lies Dubai Textile Souk.[3][1][4]

Dubai Creek with Dubai Spice Souk and Dubai Gold Souk in the background

Dubai Gold Souk will be soon renovated.[citation needed] The Dubai Municipality plans to make Dubai Gold Souk an upbeat tourist destination.[5]

World's Heaviest Gold Ring in Dubai Gold Souk

Guinness World Record

The Dubai Gold souk was host to the largest ring in the world weighing 64 kg.[6] The piece is owned by Dubai-based Taiba.[7]

2023 Prices Drop

On May 23, gold prices dropped in the UAE, having been weighed down by a stronger dollar and hawkish remarks by Federal Reserve members, after the spot price of gold shed 0.47% to $1,960.47 per ounce. This resulted in shortages for the Dubai Gold Souk.[8]

References

  1. ^ a b c Zakaria, Sherouk. "Dubai Gold Souq set to get a glittering makeover". Khaleej Times. Retrieved 2018-11-01.
  2. ^ "Your ultimate guide to Dubai's Gold Souk". gulfnews.com. Retrieved 2019-07-09.
  3. ^ "Burnish Dubai's gold souk but don't rub out its heritage, say traders". The National. Retrieved 2018-11-01.
  4. .
  5. ^ Zakaria, Sherouk. "Dubai Gold Souq set to get a glittering makeover". Khaleej Times. Retrieved 2019-07-09.
  6. ^ "Largest gold ring in the world – weighing 64kg – on display in the UAE". The National. Retrieved 2019-07-09.
  7. ^ "Largest gold ring in the world – weighing 64kg – on display in the UAE". The National. 2018-01-28. Retrieved 2021-12-23.
  8. ^ Staff Writer; Times, Khaleej. "Gold prices drop in Dubai as investors eye US debt ceiling talks". www.zawya.com. Retrieved 2023-05-26.

External links

25°16′18″N 55°17′55″E / 25.27167°N 55.29861°E / 25.27167; 55.29861