Is gold really cheaper to buy inside gold souk?

Yes, buying gold in the Dubai Gold Souk can often be cheaper compared to purchasing it in other places in Dubai or in your home country. The Dubai Gold Souk is known for its competitive pricing and lower making charges, which can result in significant cost savings. Additionally, you may find special discounts and promotions, especially if you’re skilled at negotiating.

However, it’s essential to research and compare prices, as gold rates can vary slightly among different vendors within the Gold Souk and other gold and jewelry retailers in Dubai. Also, ensure that you purchase from reputable and established shops to guarantee the quality and authenticity of your jewelry.

Shopping around inside the Dubai Gold Souk is definitely a smart strategy when buying jewelry. Vendors in the Gold Souk often aim for the highest premium possible, so visiting multiple shops is advisable. While you may not find much room for negotiation on the actual gold weight’s cost, there is more flexibility when it comes to making charges. Anwar Jewelry, in particular, is known for offering zero making charges, especially when you purchase a minimum amount of diamond jewelry. Some people even buy from Anwar and sell in countries with higher gold taxes, like India, to make a profit. However, it’s worth noting that while there are signs advertising “0% making charge,” this may not be the case for every shop. As gold prices fluctuate, some stores might adjust their profit margins accordingly. When I visited Anwar, there was a significant crowd, indicating the popularity of their offer. You can find more information about this jewelry store on YouTube, where many have shared their experiences and insights.

By Alexandre Laurent

Alexandre Laurentl is working in the jewelry and investment gold since 2002. Alexandre graduated from The Normandy School of Business and from the University of Perpignan a Bachelor of economics in 1995.

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