Gold prices in the UAE surged nearly Dh5 per gram this week, raising questions about whether shoppers will pause their purchases. The price hike, driven by global market fluctuations and economic uncertainty, has made many consumers in the UAE rethink their gold buying plans.
According to retail jewellers, foot traffic has slowed slightly as customers wait to see if prices stabilize. However, some believe gold remains a strong investment and are still purchasing despite the hike.
“People are cautious, especially when the increase is this sudden,” said a Dubai gold shop owner. “But gold is still considered a safe haven.”
Analysts suggest prices may remain volatile in the short term, and advise consumers to monitor the market closely before making major purchases.
Whether this spike will have a lasting impact on UAE’s traditionally strong gold demand remains to be seen.
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