The excellent quality of Dubai Gold accounts for its extensive international accreditations and popularity. Dubai, commonly known as the “City of Gold” for its gold mines, is becoming one of the fastest developing gold centers of the world.
The commercial activities in Dubai depend largely on the average 300 tons of gold imported annually from all the principal manufacturing countries of the world. The jewelries erected from this high-quality Dubai Gold impress females across the world with their trendy designs and glow rarely found in the gold ornaments at any other part of the world.
Dubai Gold- related industries have successfully flourished in the country, owing to the lowest gold cost as well as the free-trading ambience that facilitate the country to become a renowned name in the international gold trading market. Since the 19 th century, Dubai had been a famous gold trading port with Gold Souk as one of the world's largest retail gold markets. Gold Souk initially started its commercial activities in the 1900s with a handful of retailers and gradually grew in leaps and bounds during 1940s and 50s. At present, it has as many as 400 wholesalers and 275 retailers within some half a square kilometer area. In fact, Gold Souk is being constantly modernized with the shops remodeling themselves to meet the international standards and customer satisfaction.
Here are some incredible facts about Dubai Gold :
- The per capita purchase of 34 grams, that is, over an ounce (31.1g) of gold is so far known to be the highest in the world
- 76% of the countrymen own Dubai Gold
- 90% of the available jewelry in the market is made of plain Dubai Gold
- 95% of all jewelry sold in Dubai is above 21 karat, while the rest belong to18 karat
- More than two third of the Dubai population buy gold at least once a year
- 48% of Dubai Gold is meant for gifting
- 28% of Dubai Gold is exclusively for individual purchase
- About 95% of the international tourists visiting the country buy Dubai Gold
- Each person buys a minimum of five pieces of Dubai Gold jewelry every year
These are names of some of the internationally famous Dubai Gold shops:
- Cartier
- Damas
- Gold and Diamond Park
- Graff
- Al-Futtaim Watches and Jewellery
- Alfardan Group
- J.H. Jewellers
- Oska Jewellery
- Paris Gallery
- Pure Gold Jewellers LLC
- Taiba Gold and Jewels Co. Ltd.
- Visual Ace-Gold
- Zainal Jewelers
- Tiffany and Co.
- Atlas Jewellery
- Damas Jewellery LLC
- Joy Alukkas Jewellery
- Kaloti Jewellery
- Pacific Group
- Maisory Goldsmith LLC
The rates of Dubai Gold are fixed twice every day by Dubai Gold and Jewelry Group on the basis of the international gold rates. In recent times, the innumerable new gold shopping centers coming up further the gold business in the country, depositing huge amounts in the national exchequer.
