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Dubai Gold Souk or Gold Souk (Arabic: سوق الذهب), is a traditional market (or souk) in Dubai, UAE. The souk is located in Dubai's commercial business district in Deira, in the locality of Al Ras. The souk consists of over 380 retailers, [1] most of whom are jewelry traders. Dubai Gold Souk entrance
The Gold Souk in Dubai is one of the most famous and traditional markets in the world, renowned for its vast selection of gold, jewellery, and precious stones. Located in the heart of Dubai's commercial district of Deira , this market is a must-visit for tourists and a favourite shopping destination for locals and visitors alike.
Dubai also took delivery of over $15 million worth of watches and over 5 million ounces of silver. The 1967 price of gold was $35 an ounce but its market price in India was $68 an ounce – a healthy markup. Estimates at the time put the volume of gold imports from Dubai to India at around 75% of the total market. [49]
The Dubai Gold & Commodities Exchange (DGCX) is a financial and commodity derivatives exchange located in Dubai, the United Arab Emirates. DGCX commenced trading in November 2005 as the first derivatives exchange in the Middle East and North Africa (MENA) region. The Exchange is owned by the Dubai Multi Commodities Centre (DMCC).
Trade in gold grew during the 1940s due to Dubai's free trade policies that encouraged entrepreneurs from India and Iran to set up stores in the Dubai Gold Souk. Despite a general slump in the global gold market, Dubai's share of value of trade in gold and diamonds to its total non-oil direct trade increased from 18% in 2003, to 24% in 2004.
Barron Trump and first lady Melania Trump listen as President Donald Trump gives his inaugural address in the U.S. Capitol Rotunda on January 20, 2025 in Washington, DC.
Gold coins for sale at the Dubai Gold Souk. A gold coin is a coin that is made mostly or entirely of gold.Most gold coins minted since 1800 are 90–92% gold (22‑karat), while most of today's gold bullion coins are pure gold, such as the Britannia, Canadian Maple Leaf, and American Buffalo.
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