Sunday, June 12, 2011

Gold Souq,Kuwait

Gold is one of the most favorite among all precious metals and Middle East is extremely famous for gold and gold jewellery. It is said that Middle East gold is pure and free from adulteration. But I really find it funny and irritating when people back home say that gold is very cheap here. They think we can get it at peanut rate. I have visited the gold souq at Dubai and has visited the many gold souq's/ markets here in Kuwait. No shop-keeper will give you gold at less then market value, but it is the making charge that makes all the difference. It depends on your bargaining power how much you will be paying for the "making charge" of the gold ornaments that you will buy. And that stands true to any part of the world...Dubai, Kuwait, India.

Kuwait has many gold souq's/ markets. The following are the list of the markets, where you can go to buy this precious metal......

1)Gold market/ souq in the Watiya area of Kuwait city. Its in the Watiya Abu Bakr Street, in the same building where you will find the Asia Asia Restaurant. The restaurant is in the second floor and the ground and first floor is full with innumerable gold shops.The owners of this gold shops are mainly Indians and you will basically find Indian designs here. The first floor has brands like Damas n Joyalukkas.The gold ornaments found here is mainly 22carat.

2)There is another Gold market at Kuwait City.This market is basically Kuwaiti gold souq and the design of the souq is like the Dubai gold souq. You will find both 21 and 22 carat gold ornaments here. But 21 carat gold ornaments are more here, as you will find Kuwaiti / Arabic designs. Arabic gold shops keep more 21 carat gold ornaments.This market is near Gulf bank main office and the Kuwait Stock Exchange. Most of the shop keepers are Kuwaitis and you might find few shop owners who are Gujarati Muslims and have been living in Kuwait for generations.

3)The Fahaheel area of Kuwait has lot of gold shops. As the Fahaheel area is a large one, we can sub-divide it into 3 more areas.......

@ The first area is in and around makka street near Fahaheel NBK building. Near the building you will find brands like Joyallukas and Damas. Just opposite the building, as you take the road, you will find shops at both side of the roads. These shops are Kuwaiti shops and you will find some beautiful unique Arabic designs here.You will find 21/18 carat old ornaments here. 

@@ The other area is near Honest, Red Tag shops. There are few shops here but the owners and designs are Indian. You will find 22 carat gold here.

@@@ The third area is near Ajial Mall. There are few shops here in one street near the mall but the shop owners and designs are Arabics. Here again you will find 21 /18 carat gold ornaments 

4) There is a gold souq at Hawally area which has mostly Arabic designs and few reputed brands. You will find 18,21 and 22 carat gold ornaments here.

What I have seen and from my personal experience I feel you should go to big brands if you want to buy unique gold sets. The making price of the designs/ sets are more then 1kd/gram. Mostly they charge between 1.750 to 2.250 KD/grm. If you go to the small Indian gold shops, the making starts from .450 to .800/ gram.  And Kuwaiti/ Arabic shops charge something from 1.250 to 2 kd/gram.  

Do you know of any more gold souq's in Kuwait. You are welcome to list them here as comments.

Only the first picture is from my personal collection, the others are taken from the net. 

No comments: