Selling gold jewellery in Dubai to help the cause of another jewellery set is the smart way to go if you have gold sitting in archive jewellery box. Use it up and upgrade in Dubai!
In the Dubai Souk in Deira, about 30% of shops will offer an exchange on old gold. You will know as there are signs on the front door saying ‘We exchange old gold for new gold’. A few good shops we know of are Kanz, G.B and Barakat, all have several branches within the Deira Gold souk and also in the Dubai Mall gold souk area. Obviously, exchanging gold means you have to like the gold pieces that these particular shops have. If you like several items of jewellery in different shops or are just after selling your old gold for some cash, then there are two shops we know of in Deira Gold Souk which will offer you a quote in cash in exchange for your old gold. Al Taj, which is located in the alley of gold shops surrounding the covered part of the gold souk and Al Khatib, also not far from Al Taj. It's best to get directions from any shop keeper. These two shops will give you a valuation of your gold by separating your pieces into 18k, 22K and 24k groups and weighing each of the groups. They are experts in assessing gold so don’t try and sell off your gold plated items – they will know! Remember to bring your passport, no other form of ID will be accepted. The process is quick and normally you can sell your gold and get your cash within 30 minutes depending on how much you have. The quote you receive if selling for cash rather then exchanging for new gold doesn’t vary immensely but you may lose about 5% which is not a big deal if you prefer the cash to new gold. Bear in mind, though that some are particularly picky about certain factors: whether the gold has a hallmark. Although it is not usual, they may be concerned whether is a certificate or whether a receipt. But this is only likely to happen if they believe something illegal is taking place.(There are a number of measures taking place to prevent illegal trading of gold) so before travelling, if you have any of these documents, it might be worth taking it with you along with your gold. However from most people we have spoken to – trading in old gold is not a complicated process. To prevent amy issues, the two cash only trade in stores will request the CID to turn up to take a photo of the gold and to sign off on the sale. You won't get ripped off, but equally, if you are dealing in illegal goods, don't expect to get away with it. As well as gold, souks sell a vast amount of diamonds, however trading-in your unwanted diamonds is probably not a good idea. If you are keen to do this at the gold souk it is best to get a valuation from an independent expert first. Trading-in diamonds in the souk is generally not advised as most stores are not experts in valuing diamonds therefore a genuine deal may not be given.
Gold is a timeless precious metal that will keep its value for years and years. Many of us receive gifts in the form of gold at weddings, birthdays and anniversaries aswell as making a few spontaneous purchases ourselves and why not?! But over time, some of the pieces you recieve or buy may not appeal to you anymore or perhaps you are in need of extra cash. Trading - in your old gold jewellery or ornamnents can be useful rather then paying for jewellery upfront. The price of gold varies every day so if you are about to take a holiday to the UAE or evening passing the airports in transit it is a great idea to keep your finger on the pulse with gold prices as during some periods the value of gold can be so good - it definitely worth digging out those old pendants just to make a few bucks. Not all stores buy gold.