Gold jewellery sales in the UAE have experienced a resurgence following a significant drop in prices after reaching a peak in October 2025. According to data from the World Gold Council, demand for gold jewellery in the UAE plummeted to a five-year low of 6.3 tonnes in the third quarter of 2025, marking a 10% year-on-year decline and an 18% quarter-on-quarter drop. This was the lowest quarterly figure since the third quarter of 2020, when sales stood at 3.8 tonnes. The decline was attributed to record-high gold prices, which deterred buyers during the summer months. However, as prices began to ease, consumer interest in gold jewellery has gradually returned. Jewellers in Dubai report a noticeable uptick in sales, with customers strategically opting for lighter and more affordable pieces. Chirag Vora, Managing Director of Bafleh Jewellers, noted that the dip in prices has attracted bargain hunters, while Anil Dhanak of Kanz Jewels highlighted the seasonal boost from increased tourism and festive demand. In October, 24K gold prices in Dubai peaked at Dh525 per gram but have since dropped to Dh482 per gram. Spot gold closed at $4,001.21 per ounce over the weekend. Despite the recovery in jewellery sales, demand for gold coins and bars also declined, albeit at a slower pace, as investors anticipated further price rallies. Overall, UAE gold demand fell 9% year-on-year to 9.7 tonnes in the third quarter of 2025, the lowest since the second quarter of 2021.