The gold market in Qatar is a rich and significant aspect of the shopping industry in the country. With several shops across Qatar, many partake in the buying and selling of gold.
There are several places across Qatar where one can buy gold, diamonds and other jewellery – no matter your taste.
Gold Souq (or Souqs)
In Souq Al Najada on Ali Bin Abdulla Street, in front of Al Najada Doha Hotel by Tivoli, is the new Gold Souq, a block of over 40 shops that specialise in quality 18‑ and 22‑carat jewellery. Gold is often beautifully handcrafted by second and third generation skilled craftsmen, many of whom will be happy to make up a piece of jewellery to your own unique design, as well as resize, repair or buy gold from you. To sell gold you need a purchase receipt or authorisation from the police.
Traditional ‘bridal jewellery’ is on display in many of the shops – solid gold belts, headdresses, necklaces and hair ornaments, given to Qatari girls by their future husbands prior to the wedding. Gold is priced according to the weight of the gold on the day’s market, whether it is hand or machine crafted. Prices are significantly lower here than in most other parts of the world, and with skilled bartering, you can walk away with a really good bargain. Look out for pearls, which used to be Qatar’s economic backbone.
The older, second gold market is located behind Souq Al Faraj near the Karwa bus station, surrounding Ali Bin Abdulla St and Al Ashat St.
READ: A Walk-Through Guide Around Souq Waqif
Al Shafi St
Al Shafi St is a popular shopping street in Al Rayyan near theQatar Racing and Equestrian Club (QREC). You can find several restaurants as well as car, phone, abaya and even gold shops. Here, you’ll find Dilu Jewellers, Al Faleh Gold & Jewellers and other local gold brands.
Malls
All of Qatar’s major shopping malls have gold shops, which are branches of gold shops found in souqs. You’ll find branches of Malabar Gold & Diamonds, Al Sulaiman Jewellers, Sky Jewelry, Damas Jewellery, Pure Gold and more.
The best malls to shop for gold are Wathnan Mall, Hyatt Plaza, Dar Al Salam Mall,Tawar Mall and Royal Plaza. You can also find a few gold kiosks at hypermarkets such as Lulu and Al Meera.
In addition to the mall’s own gold shop, Wathnan Gold & Jewellery, you’ll find the best local and regional gold shops at Al Sarj Gold and Jewellery, Al Suwlajan Gold and Jewellery, Zimam Gold, Gold Mine, Mithgal Gold and more. At Hyatt Plaza, you’ll find Al Salahi Gold & Jewelry and Damascus Jewellery. The same and/or similar shops can be found at Dar Al Salam, Tawar and other malls.
Qatar Duty Free (QDF)
For lovers of fine jewellery, AU Gold represents an exquisite selection of traditional and modern gold and diamond jewellery, gold bars and CNY certified diamonds. qatardutyfree.com
Recommended brands:Malabar Gold & Diamonds • Al Sulaiman Jewellers • Al Salahi Gold & Jewelry • Sky Jewelry • Damas Jewellery • Pure Gold • Damascus Jewellery •Kalyan Jewellery
Buying and selling gold
The price of gold varies depending on the market that it is being traded and on the purity of the gold itself.
24 K gold is the purest form of gold available, meaning all 24 parts that make up the gold are 100% gold. 22 K, 21 K and 18 K gold have 22, 21 and 18 parts of pure gold respectively, with the balance being made up of other metals. This alters the price of the gold as well as its chemical composition and tensile strength. 22 K gold is most commonly used for jewellery making. Gold is also available in lesser karats but these are not as common.
The daily gold rate also applies to the rest of the countries where we are present. However, the rate per gram may differ, which ultimately alters the gold price you will finally pay.
Buying gold is safe as all gold sold in Qatar is tested and hallmarked in the country, so quality is guaranteed. Most of the gold is 18 and 22 carat. Some modern and traditional jewellery items have artificial stones and this is reflected in the price. You are welcome to try anything on, and the salesmen are willing to bring pieces from a nearby shop if they don’t have what you are looking for. You will need the purchase receipt when selling your jewellery, and you will only receive the value of the weight of the metal or precious stones excluding the workmanship.
Selling gold The Ministry of Interior lists procedures for obtaining the mandatory no-objection certificate (NOC) from the police to sell gold. A fee of QAR10 has to be paid through a debit/credit card to get the NOC. Other requirements are necessary such as bringing the gold for inspection, producing bills for the gold, and bringing the ID and passport of the owner or seller. The gold should belong to first or second-degree relatives. The service is provided by the Gold Sales Office in Souq Waqif and security departments across the country.
Invoice Many jewellery shops issue invoices based on the format prescribed by the Ministry of Commerce and Industry (MOCI). The MOCI-approved format, introduced in 2016 to protect consumers’ interests, offers customers a detailed sales invoice. It shows particulars such as unit price without processors, price of workmanship, purity degree, and trademark. Other details include information about the piece of jewellery like the total price, carat, gram, number, description, item code, the shop’s stamp, seller’s name and signature, shop data, invoice number, customer name and customer’s Qatar ID number.
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