Where does Dubai gold come from?

We are aware that Dubai is a famous city for all its iconic wonders. Though these wonders took their roots a few years ago, Dubai was famous for oil. But then, later, it held its place for gold as well. Generally speaking, middle eastern and gulf countries are famous for this all around the globe. But Dubai holds a prominent place for this compared to other countries.

Where does Dubai gold come from

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From where does the resource come to Dubai?

This can be the answer to your question of where does Dubai gold come from? Resources say that Africa is the primary source of Dubai’s gold. Dubai (UAE) is the biggest destination for African gold. UAE imports gold from other small-scale-manufacturing countries like Uganda, Tanzania, Mali, and Ghana.

Does Dubai have gold reserves?

The answer to this will be ‘no’! Dubai doesn’t have reserves. But they have built a world-class refinery that propelled gold trade globally. This place acts as a trade hub too.

Dubai gold souk

This is the market that brought the name of the ‘city of gold’ to Dubai. The word ‘souk’ means market. This is a traditional Dubai market located in its commercial district Deira. This souk is home to more than 700 retailers and jewelry traders.

This is Dubai’s business hub, and it looks like a miracle if you visit for the first time. This place has tons of gold on display. Moreover, this place has storage facilities too. With high security and robust surveillance by Dubai police, this place allows visitors to roam freely without any fear of theft.

This doubled the reputation of Dubai. The shops and sellers in this place allow tourists to try on the jewelry before purchasing them. This souk has shops that are very old and recent as well. It has sellers from around the globe too. The important items in this area are gold, platinum, diamond, and sometimes silver.

The souk still has the olden looks from the last Century with few renovations. The Dubai government plans to renovate the souk making it an attractive tourist destination. Over the years, only the length of space has grown from square meters to kilometers.

Dubai souk holds the Guinness record for processing the world’s largest ring of 65 grams.

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Meena Bazaar – Bur Dubai

Meena bazaar in Dubai is home to hundreds of jewelry chains and family-run outlets. This place is slightly cheaper than the traditional souk. The first gold shop in this bazaar was Javeri jewelry which took its roots from Indian traders in 1990.

In later years, seeing the gold rush in Dubai, many Indian vendors showed up in UAE. Today you can see many of them in the prominent gold market.

21st-century market

Today the market faces more competition than in the older days. Advanced technologies have developed, and designs are now computerized and crafted. Those were earlier hand carved. So, the ancestral businesses that used the older methods must push themselves to meet the current trend and mass-scale production.

Popular jewelry chains

There are many famous gold chains in UAE now. Most of them have branches across many countries. Cara, Damas, Joyalukkas, Malabar gold, Tiffany & co, and Sky jewelry are a few of the many.

Why is Dubai famous for this?

People tend to buy gold from Dubai. Especially the ex-pats. Here are some reasons why people choose Dubai for their purchase.

  • Bargaining – with specific vendors, you can bargain and adjust the rates of making the jewelry. Though these charges vary according to the designs, they can be adjusted by specific sellers.
  • More considerable choice – Dubai is known as the city of gold and a shopper’s paradise. From ancestral businesses to the traditional gold souk, you have choices to make.
  • Comparatively cheaper – in Dubai this is cheaper because of the tax exemption. This is one of the main reasons to attract more customers. Also, these prices in Dubai change according to the international market ranges. So, you will get the same or similar prices on all the streets. So, make sure to check the global ratings before you start shopping.
  • Pure – when you buy it in Dubai, you do not have to worry about the quality of the product. With government-regulated rules and regulations, the products have their authenticity.

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Finally,

If you want a piece of ornament from Dubai, check the market rates, go to many shops, and finalize your purchase. That will help you choose the best. Read our article on ladies’ clothing in Dubai, which will help you plan your trip in the best way.

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