Useful Tips How To Buy Gold at Dubai Gold Souk

Useful Tips How To Buy Gold at Dubai Gold Souk
Gold Souk Dubai
Souks in Arabic are markets where goods are bought and sold or exchanged. Traditionally souks sold perishable or physical goods, but today you can find electronic goods as well as paper trading stocks. The gold souk Dubai is now a mecca for those who are looking for gold bargains. It is rumored that the Dubai gold market sells tons of gold and nowhere else in the world is there as much gold on display and with as little apparent security.

1. There are two gold souks Dubai which are titled the Old Gold Souk and the new one. Both are in the same area and have very similar gold products. Buying gold in Dubai souks is based on weight. The final price of your gold piece will depend on your bargaining skills as well as the quality and willingness of the merchant. The gold rate in Dubai is determined two times a day and generally runs parallel to the US gold prices. However, there is no VAT on gold in Dubai which makes gold almost 40 percent less than similar products in the US.