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Living in Kuwait

Gold Suqs

There are several gold suqs in the country and most general shopping areas also contain at least one gold shop. Following the depredations of the Iraqi invasion, the old gold suq in Kuwait City centre was shifted to a purpose-built building nearby called suq al-dahab al-markazi (the central gold market). This building contains the government assay office where gold can be checked for its purity and conformity with its hallmark.

All gold sold from a shop must be hallmarked and the gold shops are closely monitored by government inspectors. By law the shopkeeper must give a buyer an official receipt that shows clearly the purity and weight of the gold. A buyer should always demand this receipt and then any doubts later as to the gold content and weight can be resolved at the government assay office.

Most gold is sold as 21 or 22 carat jewelry. Jewelry styles are mainly Arabic, Indian and Italian. The price of the gold content of a piece of jewelry fluctuates daily in line with the world market price for gold.

Twenty-four carat gold (99.99% pure) can be bought in bar form, i.e., in 10 gram, tola (a traditional weight somewhat more than 10 gram), 100 gram and in Kilogram bars, hallmarked accordingly. In some countries gold bars are classified as bullion.

GOLD ASSAY OFFICE
First Floor, Suq al-Dahab al-Markazi
(Central Gold Market)
Mubarakeeyah Area
Kuwait City Centre
Tel: 243 6049