I would go to whichever is the most convenient and go in various shops to haggle before you by.
The Gold and Diamond park is an air conditioned purpose built mall full of jewellery shops and the souk is more traditional by the creek in Deira. The creek area is a nice place to visit and perhaps take an abra across the creek but the G&D park may be more comfortable if you are going before the end of October.
They are both the same for price and variety, although the G&D park tends to have more western style jewellery available and the souk has more of the very yellow 24 carat gold that appeals to people from Asia and the Middle East. Ultimately, the price you actually pay will depend on your haggling skills and you should start at 40% of what you are originally quoted.
They move down a bit and you move up a bit until you agree on a price you are prepared to pay - if it's too high walk away and if they want the sale they will come after you
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