Dubai Gold Souk
Dubai Gold Souk or Gold Souk (
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 Gold Souk will be soon renovated.[citation needed] The Dubai Municipality plans to make Dubai Gold Souk an upbeat tourist destination.[5]
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
- ^ a b c Zakaria, Sherouk. "Dubai Gold Souq set to get a glittering makeover". Khaleej Times. Retrieved 2018-11-01.
- ^ "Your ultimate guide to Dubai's Gold Souk". gulfnews.com. Retrieved 2019-07-09.
- ^ "Burnish Dubai's gold souk but don't rub out its heritage, say traders". The National. Retrieved 2018-11-01.
- ISBN 9780470684597.
- ^ Zakaria, Sherouk. "Dubai Gold Souq set to get a glittering makeover". Khaleej Times. Retrieved 2019-07-09.
- ^ "Largest gold ring in the world – weighing 64kg – on display in the UAE". The National. Retrieved 2019-07-09.
- ^ "Largest gold ring in the world – weighing 64kg – on display in the UAE". The National. 2018-01-28. Retrieved 2021-12-23.
- ^ Staff Writer; Times, Khaleej. "Gold prices drop in Dubai as investors eye US debt ceiling talks". www.zawya.com. Retrieved 2023-05-26.