Dubai’s glittering gold markets just got a little more dazzling—and a lot more expensive. On Friday, gold prices in the UAE shattered previous records, with the popular 22-karat variety crossing the Dh400 mark for the first time ever. For jewellery lovers and investors alike, this milestone signals more than just sparkle—it’s a seismic shift in the precious metals market.
💰 Breaking Down the Numbers
- 24-karat gold surged to Dh433.25 per gram, up from Dh426.50 the day before.
- 22-karat gold, the shopper’s favorite, climbed by Dh2 per gram earlier in the day before leaping past the symbolic Dh400 threshold by evening.
This spike isn’t just a statistic—it’s a reality check for UAE residents. Whether you're browsing bangles in Deira’s Gold Souk or eyeing a wedding set in a luxury boutique, the cost of gold jewellery has taken a noticeable leap.
🌍 Global Surge Fuels Local Impact
The UAE’s gold rally mirrors a global trend. After briefly cooling off at $3,578.50 per ounce on Wednesday, the international spot price of gold roared back to $3,595 on Thursday—just a breath away from the psychological $3,600 mark.
Since January, gold has skyrocketed by over 30%, making it the standout commodity of the year. While sellers are celebrating windfall profits, buyers are left grappling with sticker shock.
🛍️ What It Means for Shoppers
For many in Dubai, gold isn’t just an investment—it’s tradition, celebration, and identity. But with prices soaring, the cost of maintaining that cultural connection is rising too. Expect to see more cautious spending, smaller purchases, and perhaps a shift toward lighter designs or alternative metals.
📈 Looking Ahead
Will gold continue its meteoric rise, or is a correction on the horizon? Analysts are watching closely, but one thing’s clear: Dubai’s gold scene is hotter than ever, and both buyers and sellers are feeling the burn.
