Chapter 5
∗ Dubai Gold Souk is a traditional market located in the heart of eastern Dubai’s commercial business district in Deira. By some estimates, approximately 10 tons of gold is present at any given time in the souk. In 2003, the value of trade in gold in Dubai was approximately Dh. 21 billion (US$ 5.8 billion), while trade in diamonds was approximately Dh. 25 billion (US$ 7 billion) in 2005. India is Dubai’s largest buyer of gold, accounting for approximately 23% (2005) of the emirate’s total gold trade in 2005.
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