Valencia boss Marcelino confirmed over the weekend that the Brazilian is one of the players he is following this summer.
"I think they're possible," Marcelino is quoted as saying by OA Sport. "We're talking about important players who already know our League.
"They speak Spanish, and that's important, so their adaptation would be very quick."
However, as per Betfair, Gabriel is available at just 4/9 odds to stay with the Gunners while a move to Valencia is available at 6/4 odds.