Gold souk or gold street
Zaveri Bazaar
Mumbai, India
A maze of narrow lanes in South Mumbai, near Crawford Market, packed with jewellery shops, bullion dealers and the workshops behind them. Around 150 years old and still one of India's busiest gold markets.
Zaveri Bazaar ("jewellers' market") is a dense quarter of lanes in South Mumbai, near Crawford Market and Mumbadevi Temple. For about 150 years it has been one of India's busiest gold markets and a reference point for gold prices in the country.
What you find
Gold and diamond jewellery, wholesale and retail; bullion dealers; and, behind and above the shops, thousands of small workshops for casting, setting, polishing and repair. Silver dealers and gem traders work in the same lanes.
How it works
Shops sell to the public and to jewellers from across the country. Gold jewellery is priced at the day's rate for the purity plus a making charge. Since 2021, India has required most gold jewellery sold by registered jewellers to carry a Bureau of Indian Standards (BIS) hallmark with a unique identification number (HUID).
Tips
- The lanes are crowded, especially before Diwali, Dhanteras and the wedding season; go on a weekday morning.
- Check the BIS hallmark and ask for a proper invoice.
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