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Thursday, 08 December 2005
Gold Souq

gold souq

This is a view down the Gold Souq in Dubai. I wasn’t particularly impressed after all the hype in the guide book. The Economist says:

Souk is the Arabic word for market, and Dubai is littered with them. They are a legacy of Dubai’s status as a thriving port, dating back to the 19th century, when traders and smugglers docked by the banks of the Creek to do business. The city’s souks remain beside the famous waterway.

The most acclaimed is the Gold Souk, on the Deira side of town near the mouth of the Creek. It’s an impressive sight. Rows upon rows of windows filled with elaborate 24-carat gold necklaces, with throngs of Arab and Indian women clamouring for a better view.

This is no tourist trap. People come to stock up on the yellow metal, mainly from India, the world’s largest gold market. Dubai’s bullion market has tailed off since 1999, when India liberalised gold imports, but jewellery is still thriving (recent price hike notwithstanding).

Perhaps I was missing something. Perhaps it was because I wasn’t really interested in buying anything, let alone haggling.

Posted by bigblue on 08/12/2005 at 11:02 PM
Filed under: Middle East • (0) CommentsPermalinkBookmark or Share

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