The Ajman Gold Market is a retail market, well known for purchasing gold and jewellery in Ajman. It is an aggregation of a variety of jewellers that sell various gold and jewellery products. Gold, silver, diamond and bridal jewellery are available in different styles. It offers Arabic, Indian and European styles throughout the market. Several stores also have custom jewellery that can be made for special events. The price of gold is determined by its purity, weight and the prevailing gold rates. There are variations in the making charges for jewellery and designs. The buyer has the option of comparing the quality of the products, design, making charge and final price before buying products.
Quick facts
| Detail | Information |
| Market | Gold Souq/gold jewellery market |
| Emirate | Ajman, UAE |
| Main area | Al Nakheel |
| Officially listed street | Sheikh Humaid bin Rashid Al Nuaimi Street |
| Nearby shopping area | Traditional Souq |
| Jewellery | Gold, silver, diamond and bridal pieces |
| Designs | Arabic, Indian and European |
| Custom jewellery | Available |
| Gold pricing | Based on weight and prevailing gold rates |
| Making charges | Vary according to workmanship and retailer |
| VAT on jewellery | Generally 5% under UAE VAT rules |
The exact hours that the shops are open are not made available in a single market schedule by Ajman Tourism. Some jewellers may have different hours, so before travelling, buyers should check the current hours of a particular jeweller.
Ajman Gold Market location
The official Gold Souq is located in Al Nakheel, one of the commercial hubs of Ajman. Sheikh Humaid bin Rashid Al Nuaimi Street is the street that hosts the modern Gold Souq, according to Ajman Tourism. It is also near the Traditional Souq and it can be visited as part of a visit to the older commercial district of Ajman.
The individual shops are listed by the Sheikh Rashid bin Humaid Al Nuaimi Street or by nearby street references. The difference is significant when using navigation – there are several other commercial streets in the souq and individual stores can have a myriad of different addresses.
There is also some indication that there was a separate Old Gold Souq and New Gold Souq. Al Romaizan’s official store directory currently has a branch at Ajman Old Gold Souq and a branch at New Gold Souq, which confirms that these are the names that are given to stores in the area.
Nearby attractions
The Gold Souq is not a stand-alone shopping center, but is part of an older commercial area in Ajman. The Traditional Souq is close by and the general area links to the heritage and waterfront areas of Ajman.
This is why this market is convenient for those who aren’t looking to buy gold but rather visit to view the sights and have a chance to buy jewellery as well.
Gold shops and jewellery stores
The term ‘Ajman Gold Market’ refers not to a single jewellery brand or one independent retailer, but to an entire market of them. It is a grouping of stores that sell jewellery and accessories.
The official description of Ajman Tourism states that the city has jewellers who specialise in jewellery and visitors can see Arabic, Indian and European designs and bespoke jewellery.
Al Romaizan Gold & Jewellery is one such example of a company that has been verified and has branches in both the Old Gold Souq and the New Gold Souq in Ajman, as mentioned in their official store directory. It’s currently listed in Shop No. 4 in the Old Gold Souq and Shop No. 45 in the New Gold Souq.
The other directory records include jewellers like Shaheen Jewellery and Lucky Jewellery on Sheikh Rashid bin Humaid Street in Ajman Gold Souq. While these listings may help you identify certain stores, the information included in the listings may change and operating hours should be verified before visiting a particular store.
Don’t just pick a shop off an online list of “best shops”; check the quotation, gold weight, purity, making charge and final invoice.
Gold prices and making charges
The biggest difference to consider when purchasing jewellery is the value of the gold and the extra expenditure associated with the completed jewellery.
The price of gold jewellery is normally determined by its purity and weight. According to Ajman Tourism, gold is sold by weight and the prices are based on international prices, with the workmanship being negotiated.
Let’s just say that a jewellery estimate is something you can easily comprehend:
Gold value + making charge + applicable taxes and other itemised charges = final amount
The precise calculation may vary from product to product and retailer to retailer. According to the Federal Tax Authority, jewellers can display the gold price plus the making charge as a separate line on the tax invoice, or as a single price.
This is because two pieces that are made from the same type of metal and of the same weight may be priced differently at the end of the day.
Why making charges matter
Taking charges for the labor in the making of the jewellery. Two different types of bangles, one plain and one with a lot of details, can be quite different in terms of technique.
In particular, Ajman Tourism mentions that the customer can bargain on the workmanship. That is why one of the areas to compare between shops is the making charge, especially if the weight and purity of the gold are similar.
Don’t assume that a large advertised discount is a discount that the price will actually be discounted by. Look at the total amount, not the percentage discount the retailer may advertise.
Gold purity and karat selection
Gold jewellery comes in varying purities. The higher the karat, the more gold content the alloy has and the higher the value.
There are several major types of jewellery, such as the following:
- 24K: Very high purity (highest) gold, usually softer and less popular for complex everyday jewellery.
- 22K: Jewellery gold with high purity and widely used in traditional gold jewelry.
- 21K: Frequently used for jewellery in several Middle Eastern and South Asian markets.
- 18K: Gold content is lower than 21K or 22K and offers more options for a vast number of modern jewellery designs.
The question of which one to pick is dependent on the type of jewellery, its use, design and budget. Don’t only look at the weight of a 22K piece versus an 18K piece because they contain different amounts of gold.
What you can buy
The Ajman Gold Market offers a variety of jewellers to choose from, not just a specific style. Ajman Tourism says that the Gold Souq offers necklaces, bracelets, diamond rings and fancy bridal jewellery.
Traditional, everyday, statement and custom jewellery may also be found depending on the jeweller.
Bridal jewellery
Bridal buyers may look at bigger collections as well as fancier styles from various vendors. The bridal jewellery may have a great deal of making costs and it is especially crucial to do a comparison shop between jewellers.
When considering two designs similar in cost, ask if this price is inclusive of all workmanship, stones and taxes.
Custom-made jewellery
Another “excuse” to go to the market is to have custom work. The shoppers can indeed order custom-made items, as stated by Ajman Tourism.
In case of a custom order, ensure that you agree on purity, approximate weight, design, making charge, gemstone specification (if applicable), delivery date and the final pricing method prior to production.
How to compare prices
When buying jewellery, don’t only look at the price per gram that is on display. For a fair comparison, the purities, weights and workmanship should be the same.
Retailers can be compared practically by asking each retailer for:
- Purity of gold and the rate at which it is being quoted.
- The final weight of the product (excluding packaging).
- Whether there is a charge and, if so, whether it is on mass or as a fixed amount.
- Price of diamond(s) and/or stones (if applicable).
- The base amount and final amount due for VAT.
- If applicable: exchange, return, or buy-back conditions.
The Federal Tax Authority has confirmed that supplies of jewellery would be subject to VAT and the UAE government’s VAT guidance provides that jewellery would be subject to the 5% standard VAT rate.
That is why a market-rate calculation may not necessarily be the exact amount you will pay at the counter.
Buying gold safely in Ajman
Any jewellery purchase should be accompanied by a clear invoice. Check the bill information before paying if it is different from the product you are receiving.
The following details are important: purity, weight, price, making charge and applicable VAT. If the piece includes gemstones, be sure to include the description and cost as well.
Do not depend on oral assurances of exchange or a future purchase price. Those conditions may vary from one retailer to another and are printed on the invoice.
When buying something expensive, it’s also wise to get at least two or three quotes before you make your decision. A lot of jewellery shops are in the same area and so it is possible to compare prices.
Opening Hours
The official opening dates of all Ajman’s Gold Souq shops are not published in one particular timetable. The tourism authority verifies the market and its positioning but is not able to establish one and the same weekly schedule for all the retailers.
Please check the individual hours at each store. For example, Al Romaizan’s official listing for its Old Gold Souq branch currently shows 10:00 am to midnight from Monday to Thursday and Saturday and Sunday, with Friday hours beginning at 3:00 pm.
This shouldn’t be seen as the market schedule. Friday schedules, hours of prayer during Ramadan, public holidays and individual shops may vary.
If you’re going just to shop at one outlet, check the hours of that shop before setting out.
Getting to the Gold Souq
According to the official page of Ajman Tourism, there is a City Sightseeing bus stop leading to the Gold Souq. The market is also located in the heart of the shopping area in Ajman.
In the case of taxi or ride-hailing services, it would be more beneficial to mention to the taxi driver the name of the particular jewellery store than to just state “I am going to the gold market”.
People who use navigation apps should also have a keen eye on the actual shop pin, as it can be a reference to another street or to the Old and New Gold Souq areas.
Best time to shop
There’s no official record that proves that a single time is best to visit the market. The time you prefer will depend on your preference for shopping in a quiet environment or an active evening.
If you are looking to make a specific purchase, it will be more beneficial to visit when the specific shop is open and give yourself the time to check around and take several quotations rather than following any general market-wide recommendation.
If you are considering purchasing a bridal set or a custom piece, give yourself extra time to talk about design, weight and workmanship instead of rushing into the store for a quick trip.
Is gold cheaper in Ajman?
The Ajman Gold Market should not be called one with a lower gold rate than all the other UAE markets. The pricing of gold is tied to market pricing and the variations in the final jewellery cost can be attributed to charges, workmanship, promotions, pricing of design and the retailer. According to Ajman Tourism, the gold in the market is priced by weight according to international prices and workmanship can be agreed upon.
The actual issue is not just about “cheap gold” in Ajman. Make a full comparison of quotes on similar products.
A lower making charge can result in a better final price from a shop, or a different quotation from another retailer for a design or service they have. The best basis for comparison is the invoice.
Ajman Gold Market vs buying from a mall
There is a distinction between the main souq and shopping malls concerning shopping preferences.
At a traditional souq, you can walk around from one jewellery shop to another and haggle on the workmanship. A jeweller located in a shopping mall might offer a more consistent and branded retail setting, on the other hand.
Neither will produce the lowest possible price. Comparable jewellery pieces are the ones to compare, with purity, weight, workmanship and VAT.
If the buyer is already certain what kind of jewellery he or she desires, going to the souq first can give them a few quotations on which to base a decision in a different place.
Tips for first-time buyers
Make it easy to buy and record all aspects of the quote.
- Make sure to compare the karat, the weight and the gold rate before negotiating discounts.
- Please request the making charge in advance and agree on it if possible.
- Confirm the final invoice amount, including VAT and any stone-related costs.
- Retain the retailer and invoice information once the item is purchased.
Trying to find the best advertised discount is not the aim. You need to understand what you’re paying for and to compare similar components on the same basis.
Conclusion
The Ajman Gold Market has a large variety of gold jewellery and accessories for daily use, weddings and other occasions. Visitors can check out the various designs, purities of gold, weight and making charges from various jewellers. There are also choices such as custom-made jewellery and traditional as well as contemporary designs on the market. When making your purchase, keep a check on the price of gold in the current market and do not just pay attention to the advertised price. Having a clear explanation of the purity, weight, making charges, VAT and a final amount on the invoice will help you to make a more informed purchase.
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Frequently asked questions
Where is Ajman Gold Market located?
Official Gold Souq is located in the Al Nakheel area on Sheikh Humaid bin Rashid Al Nuaimi Street, close to Ajman’s Traditional Souq.
What is Ajman Gold Market known for?
It is famous for specialty jewellery shops that offer gold and silver jewellery in Arabic, Indian and European designs, bridal jewellery and tailor-made jewellery.
Is there an Old Gold Souq and New Gold Souq in Ajman?
Yes. As of this writing, there is no official store directory, but Al Romaizan has separate branches at the Old Gold Souq and the New Gold Souq in Ajman.
Can I negotiate the gold jewellery price in Ajman?
Quality of workmanship may be negotiable. According to Ajman Tourism, shoppers can bargain the level of workmanship; the gold’s value is determined by the prevailing rates.
Does jewellery in Ajman include VAT?
Jewellery is typically subject to the UAE’s regular rate of VAT of 5%. According to the UAE government’s VAT guidance, jewellery rates are 5% and VAT will be applied as per the VAT rules.
Do all Gold Souq shops have the same opening hours?
No. There is no retailer-wide schedule published by Ajman Tourism. Jewellers’ hours are flexible and will vary from one shop to another, so please check the shop before making your trip.
Can I order custom jewellery?
Yes. Bespoke jewellery is available at Gold Souq, as stated by Ajman Tourism.
What should I check before buying gold jewellery?
Verify the purity, net weight, applicable gold rate, making charge, gemstone costs (if any), VAT and final gold price. An accurate invoice is another advantage and documents the purchase.
Is the gold rate different from shop to shop?
The gold’s actual worth is tied to the going rates in the market; however, the worth of the jewellery might vary from one retailer to another due to making charges, workmanship, or design charges.
Is Ajman Gold Souq suitable for bridal jewellery?
Yes. Elaborate bridal pieces are among the jewellery listed by Ajman Tourism at the Gold Souq. For expensive bridal items, it’s best to get multiple quotes and designs.
