Inside Dubai's Gold Souk: A Buyer's Complete Guide

No trip to Dubai is complete without at least walking through the Gold Souk in Deira, even if you have no intention of buying anything. The sheer volume of gold on display — in windows, on walls, hanging from hooks — is theatrical. Hundreds of shops line the covered arcade, each one glittering. The UAE has some of the lowest gold prices in the world because there is no value-added tax on gold bullion and the markup on labour is regulated and transparent. The daily gold rate is published and all reputable shops display it. Hallmarking is mandatory, so 22-karat is genuinely 22-karat. When buying, know the weight of what you want and check the day's rate before entering a shop. Bargaining on the making charge — the labour cost — is absolutely expected and a 10 to 20 percent reduction is normal. Take your time. Browse at least five shops before committing. Bring cash for better deals, though card payments are widely accepted. And remember that gold purchased in Dubai for export is free of customs duty within many countries up to certain limits — check your home country's rules before you fly.