The United Arab Emirates is one of the most important gold markets in the world, the gold markets in the Emirates are characterized by high manufacturing quality, credibility of sales and presence of rare pieces in them, which managed to enter the Guinness Book of Records, because they contain the largest piece of gold, the most expensive piece, and many other distinctive pieces, the UAE has several gold markets where individuals can purchase gold.
Here are some notable gold markets in the UAE:
1. Gold Souk in Dubai: The Gold Souk in Dubai is one of the most popular and well-known gold markets in the UAE, located in the Diera district, it is a traditional market consisting of numerous gold and jewellery shops.
The market offers a wide range of gold products, including gold bars, coins, and various jewellery designs.
2. Gold Souk in Abu Dhabi: Abu Dhabi also has its Own Souk, located in the Madinat Zayed Shopping Centre, this market is known for its collection of gold jewellery and is a popular destination for locals and tourists in the capital city.
3. Gold Centre in Sharjah: The Gold Centre in Sharjah is another renowned gold market in the UAE, located in the heart of Sharjah and is known for its extensive collection of gold jewellery, including traditional and modern designs.
The market is a hub for gold trading and attracts customers from across the UAE and neighbouring countries.
4. Gold markets in other emirates:
Besides Dubai, Abu Dhabi, and Sharjah, other emirates such as Ajman and Ras Al Khaimah also have gold markets, these markets are smaller in scale but still offer a variety of gold products and jewellery options.
ATM for selling gold:
The United Arab Emirates has the first gold ATM in the world, the machine is covered with gold leaf, the machine sells 24-karat gold bullion in various sizes (1,5,10,20,50,100,250 gram) and gold coins, it also displays the current price of gold, gold prices are updated immediately according to the market price, so you can know the price of gold even if you do not want to buy it, Purchase can be made by credit card or cash, the machine is equipped like armored vehicles to prevent theft and it is equipped with surveillance cameras and a computer to save all transactions, it also performs a scan to check the identity of the buyer if the purchase value exceeds 1,000 euros.
Buying gold bullion in the UAE:
The UAE is a preferred market for many to buy gold bullion, because there is a large market for selling it there in various cities of the UAE. Gold bullion is available between 1 gram and up to 1 kilo, and there are sometimes more.
There are also many gold factories in the UAE that have gained a high reputation for honesty and quality.
Record numbers in gold:
Record numbers are normal in the Emirates, so achieving records in the field of gold is normal for a country that does not know the impossible, for example, in the Dubai market, one of the cities in the UAE, it has the largest handmade gold chain 5 meters long, the largest gold ring in the world, weighing 66 kilograms, and many others.