What is Dubai gold really, what standard is it and how much does it cost + customer reviews

For many people, especially in the East, owning gold jewelry is an indicator of success and high income. It is important for women to have a lot of jewelry to match different outfits. Dubai gold helps you look impressive, bright and rich for relatively little money. This is expensive jewelry that skillfully imitates real precious metal.

A high-quality alloy is practically no different from high-grade gold. And the range from Dubai craftsmen is so wide that everyone will find a suitable product for themselves. I will tell you about what kind of jewelry this is, why it is popular, where to buy and how to store jewelry.

What kind of gold is this

The products are made from a special alloy, which includes brass, copper and randol (beryllium bronze). These materials themselves are not cheap. They are used to make luxury jewelry that looks like it is made of real gold.

The alloy is environmentally friendly and safe for allergy sufferers, does not irritate the skin. The structure and color of the material do not change during wear. It is resistant to corrosion, exposure to sunlight, and sea water. The jewelry will not fade over time like regular jewelry. At the same time, they can successfully replace jewelry.

Origin

Production of Dubai gold began in the United Arab Emirates. Gold jewelry in Arab countries is typically made from 18k gold, which is metric 750 gold. This is a high-grade alloy. Due to the high gold content, it has a bright, rich yellow color.

Expert opinion

Vsevolod Kozlovsky

6 years in jewelry making. Knows everything about samples and can identify a fake in 12 seconds

The jewelry alloy closely matches the shades of 18K Arabic gold. It was invented as an alternative to the real thing.

Composition and properties

The alloy simulating precious metal consists of copper, brass, randoll and a small amount of gold. A combination of copper, zinc, beryllium and tin is also used. The materials are hypoallergenic; even allergy sufferers can wear such jewelry. It will not cause negative reactions in the body.

In addition to its attractive appearance, gold from Dubai has the following properties:

• not afraid of corrosion and oxidation;
• durable;
• does not fade from salty sea water or sunlight;
• has an affordable price;
• environmentally friendly (contains no synthesized chemicals);
• has a long service life;
• durable, resistant to deformation;
• Suitable for everyday wear.

Strength and weight

The combination of components in the alloy makes it both ductile and durable. The products are resistant to shock, deformation, and scratches.

The service life of Dubai gold, subject to daily wear, is at least 3 years. The decoration will last many times longer if it is carefully stored and protected from mechanical stress.

Shade range

Jewelry made from Dubai gold can have the following colors:

• white with a blue or green tint;
• citric;
• white and gold;
• pink;
• rich yellow;
• pronounced golden.

The color depends on the composition of the alloy. The shade is also influenced by the proportions of the components.

Samples

To say that the Dubai precious metal corresponds to any standard would be wrong and incorrect. Still, fineness is a term applied to precious metals. It characterizes how many shares of gold or other precious metal are contained in a unit of the alloy.

Expert opinion

Vsevolod Kozlovsky

6 years in jewelry making. Knows everything about samples and can identify a fake in 12 seconds

In Arab countries, low-quality products are unpopular. Most of the jewelry from jewelry companies in the UAE are 14 or 18 carats (585 and 750 metric). The colors of these samples correspond in appearance to gold from Dubai.

The most popular shopping places

These are the Dubai Gold Souk in Deira and the Gold and Diamond Park, which is located on Sheikh Zayed Road. These places are attractive because you can and should bargain there. The same applies to jewelry stores in Baniyas Square. In malls, in some stores it is not customary to bargain - the prices are fixed, however, there are also those in which you can try to bargain for a small loyalty (maximum 30%).

As for the assortment, the choice is huge everywhere. The only thing is that the design of the vast majority of products is designed primarily for oriental tastes - the decorations are massive and voluminous, not always made flawlessly. For people with good taste, to find a suitable product or set, they need to work hard in their search. Often, massive jewelry is made of hollow, or “blown” gold, in order to reduce its weight and cost.

Refined and elegant jewelry, originals rather than copies, are more likely to be found in mall jewelry stores, but the price will be appropriate. Knowledgeable people recommend the network of branded departments DAMAS, Joyalukkas and Al AnWaaR, as well as branded jewelry stores. The gold market provides a service for making jewelry according to the customer’s sketch. The cost of the service depends on the standard of the precious metal, the weight of the product and the complexity of the work.

As for the quality of gold, in the Emirates the probability of buying an outright fake (another metal instead of gold) tends to zero. Here, mainly yellow gold, the so-called Italian, 750 carat (18 carats) is offered. Gold of the same standard comes in white and pink colors. Products made from 22-karat gold are no less popular. It is less common to see items made from 585 standard (14 carats). Also on sale you can find bars and coins made of “pure” gold, 999 purity (24 carats). Gold bars can be purchased from a specialized machine in the Burj Khalifa on the 124th floor. It is planned to soon install such machines in the Dubai Mall and the Atlantis Hotel. The coins are well presented in Duty Free, but the prices there are not entirely encouraging.

Where is it used?

The alloy is most often used to make voluminous, bright jewelry. It can be made in a restrained, elegant style or, on the contrary, richly decorated in traditional oriental fashion. The material is quite soft and pliable. It is used with equal success in manual work and for the production of stamped products.

Jewelry is in great demand among the local population and tourists. This explains the variety of jewelry offered for both women and men. Precious and semi-precious stones are even inserted into jewelry.

The alloy is widely used in the souvenir industry. You can find figurines, amulets, swimsuits and even pacifiers for babies made of Dubai gold.

How I bought gold. Stories of an Idiot Investor 3

Disclaimer: This is not an article by a precious metals expert. My material is about how a small private investor thinks when faced with gold.

First, a few sketches.

I recently visited the Diamond Fund exhibition. Haven't been since school. There is a huge collection of ingots and nuggets. Be sure to go, it's truly mesmerizing. Even those who are indifferent to gold.

To get there, you need to stand in a half-hour line at the box office. There are many women, elderly people and tourists from Asia in the queue. During the excursion they stand at the shop windows. I'm a little to the side, studying their faces. The ladies whisper to their companions and ask to buy jewelry. Old people react to the exhibits with loud exclamations. And foreign tourists just stand there with their mouths open.

Another sketch. I was once sitting on a forum. One of the local old-timers was busy buying scrap gold. I used this money to buy one-room apartments. Over the course of two decades, I managed to save up enough for 6 apartments in this way. Interesting strategy. Once a year I go to that forum to visit a colleague. Everything is still the same for him. Calculates the price per square meter in gold, compares the stock market with gold charts, etc. He's clearly having fun and comfortable.

What do these people have in common?

• Blind faith in the value of gold.
• Emotional attachment to the investment object.
• Hobby . They are very similar to numismatists.
• The desire to show off . That is, a demonstration of wealth.

I admit that a few years earlier I, too, succumbed to temptation. And he began to “invest” in gold. But they “caught” me doing completely different things. I stumbled in fear.

What prompted me to buy gold:

• Fears . What if the dollar is abolished? What if there is a war tomorrow?
• Various stories. Return to the gold standard, depletion of gold reserves.
• Absorption of useless literature , which very cleverly disguises itself as investment literature.

Selecting a tool
They changed the firmware for me. All that remains is to choose a storage form.

I chose intuitively and spontaneously. I was in a hurry for some reason. Probably preparing for nuclear winter. Or what were they afraid of then? I do not remember exactly.:)

OMS (an impersonal metal account) was not suitable for me due to distrust in banks and large spreads. We also had to immediately abandon the ingots. Losses of 18% on VAT. The secondary market is scary... suddenly they’ll throw you away.

I was choosing between scrap gold and bullion coins. The crowbar seemed incomprehensible to me. I didn’t really want to meet hucksters and pawn shop workers. I settled on coins.

First I contacted Sberbank.
Saw some crazy spreads there. I started looking for alternatives. It turned out that in Moscow only 2-3 companies are able to provide me with intermediary services - “Derzhava” and “Golden Coin House”. An exciting adventure
I arrived at the “Derzhava” office. Paid in cash. The bearded guy gave me a decent-sized bag. I took him home. The first couple of days I pulled out coins and licked my lips at them. I showed it to my children, friends and relatives.

Then the adventures began. I found forums and communities of eccentrics just like me. There, people in white gloves told interesting things. I will list the most interesting of them:

• When buying coins, no one thinks about storage. As a result, most people keep their homes haphazardly. More advanced ones keep coins in a safe and set an alarm. Someone places it in a safe deposit box. Someone buys a special tube and buries it in the country.
• Under no circumstances should coins be removed from the capsules. The slightest scratch and you will have to throw away the coin with a discount of 10-15% or more.
• No one really explains how to buy gold for a large amount. Even a million dollar bag weighs a fair amount and takes up a lot of space. But what about those who are going to spend a large sum of money?
• Russian coins are not very popular abroad. Therefore, taking out savings “in shorts” in the event of social upheavals and then selling them is not a good idea.
• The favorite story of the “coin-makers” is the spots on the Victorious. This myth has long been debunked. But people still value Moscow coins higher. And they ignore coins produced by the St. Petersburg Mint.

Today those “bitten” by gold took to YouTube.
Here is an example of such a community. Take a look at your leisure. Just be careful with your psyche www.youtube.com/channel/UCfvlB_OW246s7x17RhD-IaQ On my way out
I spent six months in coins. They even went up in price a little. But the fear of losing them (physically) began to become quite annoying.

I decided to sell. Did it without problems. Purchased upon request the next day. The spread wasn't very big. They gave me a piece of paper about the sale.

They didn't really explain the taxes.
It seems they say that they themselves do not report anywhere. But you need to declare profits. I can only note that owning a coin for more than 3 years exempts you from personal income tax. Paper gold
How was it necessary to buy gold in the first place? I turned on logic. I needed to find a tool that would provide the following capabilities:

• Quickly jump out of the metal.
• Own gold with minimal costs.
• Avoid large spreads.
• Owning gold is safe.
• Pay minimal taxes or not pay them at all.

If I had spent at least a month of my life analyzing it, I would never have gotten into “live” metal. The range of tools turned out to be extremely wide:

• FXGD ETF. The simplest and most understandable. Pros: Any investor can buy. Disadvantages: high commissions compared to Western counterparts.
• Gold ETFs from market monsters - IAU and GLD . The most liquid, convenient and inexpensive instrument. Buying is a little more difficult. Either through a US broker or obtain KVAL status.
• Gold mutual funds (Sberbank, etc.). Insane commissions.
• Contract GLDRUB_TOM (1 lot - 10 g of gold). Not very clear to the average person. Not all brokers have it.
• Gold futures. Not suitable for long-term investors.

And so I bought a paper analogue of gold - one of the bourgeois ETFs. I didn’t feel any joy. Why? Yes, because those factors that I mentioned at the beginning of the article have disappeared: emotionality, numismatic passion, faith. No adventures for you. I was left with a line in the terminal and a boring entry in an Excel spreadsheet.

Why is this very good?
Because I returned to the correct state of an investor - the absence of falling in love with my assets. Why this is bad - read below. Reverse flashing
First, I arranged a psychoanalysis session for myself. I wrote out all the horror stories and worked with them:

• What if there is a revolution and a change of system . In this case, I will need cash, a passport and a plane ticket.
• What if banks stop working ? Just look at our history and neighboring countries. In such a scenario, I would also need a solid cache.
• What if there is a war ? Ask the residents of Donetsk. What was valued at that moment? My wedding ring or a year's supply of stew? Think about where and with whom would you exchange your gold scrap?

Then I included the logic:

• Can something that does not generate cash flow be called a full-fledged asset?
• Gold is a hedge against inflation. But stocks and real estate perform the same function. In addition, they can generate dividends and rent.
• Gold is a protective asset in a crisis. A protective asset in the event of a crisis can be either cash or short bonds. And the crisis itself may follow such a scenario that all assets will fall into the abyss.
• Will faith in gold last forever? An entire generation of the gold standard is now dying. Young people generally do not understand what kind of entity this is.

There are no arguments left in favor of gold. I sold it without regrets. And I never returned to this instrument.

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How is it different from regular gold?

It is almost impossible to recognize with the naked eye where is Dubai gold and where is ordinary gold. It has the same color, shine, and shines in the sun. All these characteristics correspond to high-grade gold. Even the weight of the alloy and gold in products of the same type will be approximately the same.

The alloy has slight differences in shade from gold 375, 500, 585. Gold jewelry that is familiar to us has a reddish tint due to the inclusion of copper in the composition of the alloy. The main difference between a jewelry alloy and a gold alloy is its affordable cost.

Samples

In its original form, the noble metal looks completely unattractive. Natural gold has many disadvantages. Among them: susceptibility to corrosion, mechanical damage, dull, inexpressive color. To correct the situation and obtain a “perfect” piece of jewelry, silver and copper are added to gold. To improve its quality, zinc and palladium are used.

Many believe: the higher the purity of gold, the more valuable, durable and better quality it is. But that's not true. The higher the metal standard, the lower its strength. There are 6 main samples of gold.

1. 375 is 9 carats. It contains about 37% pure gold. The rest is silver combined with copper. Such products are considered the most durable. But they are also cheaper due to the fact that they quickly lose their attractiveness: they fade over time.
2. 500 – 12 carats. It contains 50% pure natural metal. Such products begin to fade after 2 years.
3. 585 – 14 carats. This is the gold standard. The jewelry contains about 58% pure gold.
4. 750 – 18 carats. 75% consists of natural metal. Products made from it are characterized by moderate strength.
5. 958 – 23 carats. Jewelry includes 95% pure gold. They look chic but are soft; Because of this, they quickly scratch and break.
6. 999 – 24 carats. Rare high-grade alloy. It is used as inserts in jewelry.

How much does 375 and 585 gold cost? It all depends on the alloy used and the country of manufacture. The price difference in the above samples will be about 30%.

Assortment of products and decorations

The selection of items made from Dubai gold is truly huge. This is an expensive alloy. It is used in two ways - making jewelry and souvenirs. Even the most fastidious fashionista will find a piece of jewelry to suit her taste:

• earrings;
• chains with unique weaving;
• bracelets;
• rings;
• necklaces with semi-precious stones;
• pendants with various symbols.

Souvenir products are also varied. Local craftsmen make decorative items, coins, ingots, figurines, vases, amulets, and cutlery.

Advantages and disadvantages

Rich people also wear luxury jewelry from Dubai. It equally replaces jewelry in everyday wear and allows you to complement your look without large material costs. The structure and color of the material do not change over time, unlike cheap jewelry. The alloy components are resistant to corrosion, oxidation, and aggressive environmental influences. There is even a guarantee from the manufacturer that the original appearance of the jewelry will be preserved - at least 2-3 years.

The advantage of Dubai gold is its environmental friendliness and hypoallergenicity. This is probably the only jewelry that is ideal for allergy sufferers. These products are easy and safe to store at home. Another plus when buying Dubai gold is its price. This jewelry is not cheap, but much more affordable than jewelry.

The only drawback is that it is still not gold. In case of urgent need for money, jewelry cannot be pledged to a pawnshop or sold.

Subtleties of choice

Despite the fact that UAE authorized officials carefully monitor the quality of Dubai alloy, at Gold Souk you can find not only high-quality jewelry, but also fakes. Therefore, each product must be carefully examined before purchasing: if something is suspicious or, even worse, any obvious defects are noticeable, it is better to refuse the purchase. It is also worth considering a number of tricks that will help you make a more profitable deal:

• Before visiting the market, it is better to consult with experienced buyers who have already purchased jewelry in Dubai: they know the places where you can buy obviously high-quality products.
• Gold Souk is considered a wholesale market, and the more items a buyer purchases from the same seller, the lower their final price will be.
• There are practically no price tags on jewelry, and if there are, the price indicated on them is always disproportionately higher than the real one. Therefore, when approaching the counter, you need to take a closer look at the product and confidently ask about its price. At the same time, it is important to know: if the seller senses hidden fear of the expected amount in the buyer’s voice, he will definitely inflate the cost of the jewelry.
• Large, massive-looking products must have appropriate weight. If the jewelry is light, it is probably blown, that is, hollow inside, and is not worth the amount they ask for it. In this case, bargaining is not only possible, but also necessary.
• The cost of a gram of Dubai alloy is the same in all market stalls, but it changes daily.
• You need to start bargaining with the seller immediately after he announces the amount he wants to receive for the jewelry. You are allowed to voice your doubts about the quality of the product and point the shop owner to competitors who are ready to reduce the price (even if in fact this is not the case). But at the same time, you should definitely remain friendly, joke and smile all the time. Consistent, well-conducted bargaining will allow you to save at least 35% of the price initially quoted. If the seller flatly refuses to give in, and the jewelry is objectively not worth the money they want for it, you can leave without hesitation.

Of course, it is best to buy luxury jewelry in the UAE, however, if this is not possible, it is worth looking for specialized online and offline stores that sell Dubai jewelry and have accompanying documentation for the shipment of goods. The only drawback in this case will be the impossibility of bargaining.

Buying Dubai gold means finding a worthy and more affordable alternative to products made from precious metals. Arabic alloy is not only beautiful, but also extremely durable, so you are unlikely to regret purchasing it.

How to spot a fake

The activities of traders are controlled by the UAE government and the leadership of the city of Dubai. The Dubai Aurum can be called one of the city's attractions. Rarely does a tourist leave the country without jewelry, souvenirs for himself or as a gift. A store that sells original jewelry must have permission from the regulatory authority. Trade in counterfeits threatens to deprive the license to engage in such business.

Before purchasing, I recommend picking up the jewelry and examining it carefully. Original Dubai jewelry differs from cheap analogues in its solidity, uniform color, and the absence of distortions and deformations.

Alloy components are not cheap. For this reason, making jewelry of poor quality is impractical and economically unprofitable. Every detail in such a product will be executed perfectly, be it handmade or machine stamped.

Where can you buy or sell

Dubai has a huge market where all kinds of jewelry and costume jewelry are sold. On the market territory there are hundreds of trading platforms - shops and stalls. Here you can look at it, hold it in your hands, try it on and even bargain. A visit to the gold market is even included in city tours.

If it is not possible to travel to the United Arab Emirates, luxury jewelry can be purchased closer to home. Its implementation is carried out by intermediaries in many countries around the world.

Such products are rarely sold after wear. If the product does not suit you or you are tired of it, you can try to sell it through a second-hand store.

Gold Souk in Dubai

This is the largest gold bazaar not only in the Arabian Peninsula, but throughout the world. This is the place in Dubai that every tourist should definitely visit. There are more than 300 retail outlets outdoors. The presented assortment is huge: hundreds of thousands of different jewelry and souvenirs.

What is

The Gold Souk is considered one of the hallmarks of the city of Dubai. This is not a shopping center, but a colorful oriental bazaar. It occupies an entire block and has existed for decades.

At the beginning of the 20th century, workshops of local jewelry craftsmen were located on the site of the current gold market. When Sheikh Muktum exempted foreign traders from paying taxes, it turned the city into a leading trading center in the Persian Gulf. Iranian and Indian jewelers flocked here. At that time, the market occupied an entire block.

Where is it and how to get there

The market is located in the central part of the city - Deira district, Al-Dagaya quarter, Sikkat al-Khail street. You can get to Gold Souk in the following ways:

1. On foot. There are signs throughout the city.
2. With a guide as part of an excursion group.
3. By taxi. The driver needs to say “Dubai Gold Souq”. The cost of the trip depends on the distance of the hotel (from 5 to 60 dirhams).
4. Metro. The fastest and cheapest way. You need to take the green line to Al Ras station. Coming out of the metro, you need to go right. After about 500 meters you will be greeted by the first pavilions.

I would not recommend driving a rented car. The market is always crowded and you can spend a lot of time looking for a parking space.

Opening hours

Shops open daily at 9:30 and are open until 22:00. Many retail outlets close for a break from 13:00 to 16:00. This is the hottest time, especially in summer.

When is the best time to come and what to see

Local guides advise tourists to come to the gold market on weekdays. In the Emirates these days are from Sunday to Thursday. Friday and Saturday are days off.

There are fewer people in the market in the morning. You can choose the decoration calmly, without any fuss. In the evening the heat subsides and it is much more comfortable to be in the shopping arcades, but there are also a lot of buyers.

The market has sights that are a must see. This is the world's largest bracelet. It consists of 875 gold alloy and weighs 58.7 kg (including 5.1 kg of precious stones). Be sure to stop by Al Romaizan Gold and Jewelery. This is a retail outlet with gold suits, dresses, huge earrings, bracelets, and necklaces. Almost every shop allows you to take a photo as a souvenir.

Further in the video you can clearly see how Dubai gold is traded:

What is the market like?

Dubai Gold Souk welcomes tens of thousands of guests from all over the world every day. At the entrance to the site (at the top of the arch) it says “Dubai City of Gold” and this is the best description of what you are about to see. The market area is located in the business district of the city called Deira. The market is a symbolically designated area that borders the fish market and vegetable market.

Today there are more than 380 retail outlets here. These are mostly small salons and shops, the size of a simple boutique in a shopping center. New trade participants appear every season, but in small numbers - the cost of opening such a store is enormous even by the standards of the Emirates.

The range of products presented here covers everything that can be made from metal. The full range of jewelry (earrings, rings, bracelets, men's and women's options) is complemented by figurines of various sizes, clothing items, and souvenirs of all possible types. The world's largest gold ring is the size of a car tire.

By the way, in addition to gold, in some places you can also find products made of platinum and silver, but there are much fewer of them.

Locals love gold very much. The market is focused not only and not so much on tourists, but on the Arab population (the UAE is the world leader in terms of gold purchase volumes). It is the national flavor that attracts tourists here. You can look at gold for a long time, but at some point the surprise stops. But you can continuously look at the behavior of local buyers. You can always find a person casually walking from shop to shop, followed by a porter with a large tray with purchases on it. This is how young Arabs like to show their importance by hiring a special person to carry his things for him.

On weekends, the market is visited by wealthy sheikhs. Rich men come here with a harem and servants, so this “shopping” looks impressive and bewitching.

The history of the market is already quite long. In 1958, a certain Arab (they called him “Syrian”) came to the city from Damascus. He brought a huge batch of pearls, settled down on a bench at the local market and organized his trade in such a way that he quickly sold everything and was remembered by everyone. The Syrian purchased a new product - gold and gold jewelry. From that moment on, he steadily expanded his business, remaining “loyal” to metal. Other traders saw the profits the new business brought and also switched to working with metal. This is how the “Dubai City of Gold” was formed.

Tips for choosing Dubai gold jewelry

When purchasing at the Dubai Gold Souk, I advise you to adhere to the following rules:

1. Buy in stores that have a license and are ready to issue a certificate for the product.
2. You can and should bargain. This way you can save a lot!
3. Inspect the product carefully. There should be no cracks, deformations, or abrasions on it.
4. Massive products should be heavy. Light weight means hollow inside. This means that the decoration will be easily damaged.

Features of care

In order for the purchased product to please its owner for a long time, the following rules of its care must be observed:

• keep separately from other jewelry in a woven bag or box;
• clean at home without using aggressive detergents;
• Avoid splashes of alcohol-containing substances.

Following these simple rules will allow you to use your jewelry for a long time.

To learn where to buy Dubai gold, watch the following video.

Customer Reviews

Most buyers respond positively to jewelry made from Dubai gold. These are elite products of excellent quality. Unlike precious metals, their cost is several times lower. Some tourists come to Dubai specifically to add to their jewelry collection.

Dubai gold jewelry is a great alternative to gold jewelry. You can easily wear them on the street, work or party, richly and stylishly complementing your look. Save this article if you are going to Dubai and be sure to visit the local gold souk. Don't forget to subscribe to our new articles and share useful information with your friends.

Kinds

The classification is simple:

1. White gold.
2. Yellow.
3. Red.

Products made from white gold are valued higher. Noble metal is made from expensive impurities. They determine the high cost of jewelry.

The whitish color of the noble metal is not created with the help of platinum, as many believe. White gold is produced by adding impurities of nickel, copper, zinc and silver to a natural element. All of them increase the strength of the precious product. White gold comes in two types: noble and ordinary. In the first type, jewelry makers add expensive metals. The second one includes nickel and copper impurities. Therefore, prices for white gold products may vary significantly.

Yellow color is the natural shade of the noble metal. How much is gold worth? If we compare products made from yellow and white metals, the former will be significantly cheaper. This is because yellow gold is soft. Fine jewelry made from it will be fragile: they can easily be damaged in everyday life.

Red gold is obtained through complex processing of natural metal. This product is durable. It does not fade and does not lose its attractiveness when worn. However, fashion dictates its own rules. Jewelry made from red gold is valued less than its counterparts made from yellow metal. Its value is also affected by the fact that red gold is more difficult to combine with precious stones. And this reduces its price. Red is the cheapest gold.

In which country it is more profitable to buy precious metals, we will consider below.