Dubai has always been known as one of the most popular cities concerned with gold trade .That is why it is nearly impossible that some one who visit Dubai without exploring famous gold market , the Deira Gold Souk in Old Dubai .
Even if you are not willing to buy gold , you will be attracted with the marvellous place that became included as a regular station for most tourists . If you are planning to buy gold , you should be supplied by some information and brilliant advices that help you get best benefit .
1 . Gold price in market :
it is known that gold price ” gold rate ” is fluctuating all the time ” ups and downs ” . So , when you are about to buy gold , you have to be oriented with the exact price of gold . Gold prices are daily published data through websites and economic newspapers .
2 . Gold Types
Water for drink is only one type while gold is not. In other words , gold is classified into categories according what is named ” Carat ” then weighted in grams ” and may be fraction of gram ” .
What is ” Carat ” :
Pure gold is a soft metal . It is hardened by mixing it with other metals . According to degree of purity and amount of other metals mixed with , gold can be classified or described by Carat 18 , 21 or 24 where the highest Caratmeans the highest purity of the god . It means that Carat 24 is the most pure type while Carat 18 expressing less purity .
N.B. Different Carats have different colors due to different concentrations of gold
3 . How to start ?
While in gold market , explore all jewels around you then choose the most suitable piece for you either ring , necklace , earring , ..etc .. Then ask about the carat and weight of the gold piece . the attendants will tell you the carat then will weight it in front of you .
4 . How to haggle !!
Haggling is never an easy process , it is an art be attained by time and after you go through various shops that sell same piece .
Sellers are alert and they know well that most people will try to get what they need at lower cost that is why sellers are always ready to tell you another lower price if you are actually going to buy . If you find the new price suitable for you m it is ok . or you can tell him the affordable price .
Haggling is based on two factors : the RATE and the MAKE.
Rate : ” Gold price ”
As mentioned above , gold rate is fluctuating all the time and real – time prices for all carats are clearly published . Sellers know well they are monitored by Police of Dubai and it is very rare that they trick you by telling higher price So , it is not wise to ask for rate discount
It corresponds to cost of labour of gold piece you are buying and it is directly proportinal with complexity of design . The more intricate the gold piece , the more MAKE charge is . Here , you can haggle and ask for a less MAKE charge especially if you are buying more than one piece .
5 . Visit different shops .
Most shops have same pieces of gold and gold rate is the same in all shops . Final price depends on your haggling skills that may be more effective with some seller while you can not reach same price with another one . That is why you have to go around different shops .
6 . Stop over haggling
If you are willing seriousely to buy apiece of gold but you are asking for lower cost , the seller may accept or not . In case the seller respond m you should proceed to final steps and get the gold piece and don’t ask for more discount . When you don’t perform to much haggle , some sellers may slash off another dollar to show their appreciation !!