UAE gold prices up 44% this year, forcing shoppers to change how they buy jewellery. With 24-karat gold trading at Dh453.25 per gram today and 22-karat at Dh419.50, prices are much higher than Dh315.58 per gram in September 2024. Despite this sharp rise, demand in the UAE market remains strong.
Retailers say customers are now more price-conscious. Many buyers wait for small dips in rates before making a purchase. Some lock in prices with deposits, while others take advantage of promotions on making charges. Younger investors, especially in the 25–40 age group, are buying gold as a safe investment. They often start with coins, bars, or savings plans before moving on to jewellery.
Traditional buyers, however, still focus on gold for weddings and festivals. But their strategy has shifted. Instead of buying many items, they prefer fewer pieces of higher quality. Customers now look for timeless designs, certified diamonds, or investment-grade jewellery.
Flexible payment plans and savings schemes are also becoming popular. Retailers offer monthly installment options starting from Dh200. Some stores even allow customers to lock in current rates with just a 10% down payment. This helps buyers manage rising costs while still purchasing jewellery.
Gold designs are also evolving. Modular bangles, adjustable chains, and stackable rings are gaining demand. These allow shoppers to build collections without overspending.
Global analysts say gold demand is rising worldwide due to interest rate cuts and strong central bank purchases. With inflows already at 400 tonnes this year, experts expect prices to stay high. Despite challenges, gold remains a symbol of investment, culture, and tradition in the UAE.
