Dubai’s gold market is demonstrating remarkable resilience as prices surge past unprecedented thresholds, with 24K gold reaching a historic peak of Dh601 per gram over the weekend. Despite the soaring valuations, consumer activity remains robust as both buyers and sellers adapt to the new market reality.
The precious metal has maintained a consistent upward trajectory, achieving record highs during five separate trading sessions within the past week alone. This sustained appreciation has created a dynamic marketplace where traditional purchasing patterns are evolving in response to economic conditions.
Market observers report two distinct consumer behaviors emerging. Many buyers are accelerating previously planned jewelry acquisitions in anticipation of further price increases, while others are shifting toward lighter, more intricate designs that emphasize craftsmanship over pure weight. According to Aditya Singh of Titan Company, ‘Trust matters more than ever at this current price point.’
Concurrently, jewelry retailers note increased activity in the secondary market as consumers capitalize on high prices to monetize unused pieces. Anil Dhanak of Kanz Jewels clarified that this trend represents strategic value realization rather than distress selling, with customers frequently exchanging older items for contemporary designs through transparent exchange programs.
The fundamental drivers of gold demand in the region—cultural traditions, wedding requirements, and emotional value—continue to sustain market activity despite price pressures. Consumers are adapting purchase quantities and designs to accommodate budgetary constraints rather than withdrawing from the market entirely, demonstrating gold’s enduring perception as a long-term store of value in the UAE market.