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Dubai Gold Prices Surge Past Dh400—Buyers Are Going Smaller

With global gold nearing $3,330/oz, UAE shoppers turn to smaller 18K pieces amid rising costs.

  • Publish date: Tuesday، 01 July 2025
Dubai Gold Prices Surge Past Dh400—Buyers Are Going Smaller

Gold lovers in Dubai are facing a glittery dilemma as prices surged past the Dh400 mark again on Tuesday, prompting a noticeable shift in shopper habits across the UAE.

Read More: Where To Buy Gold In Dubai and More...

According to Dubai Jewellery Group data, 24K gold was priced at Dh400.25 per gram, while 22K, 21K, and 18K stood at Dh370.75, Dh355.50, and Dh304.75 respectively. The spike follows a global jump, with spot gold trading at $3,329.84 per ounce—up nearly 1%—due to concerns over looming tariffs and a weakening US dollar.

“Higher prices are definitely impacting how people buy,” said one gold retailer in Deira. “We’re seeing more customers move toward 18K items instead of 22K or 24K. It’s about staying within budget, especially with summer travel and wedding season coming up.”

The shift is largely driven by residents planning trips back home, often with jewellery gifts in hand. With prices tightening wallets, affordability is leading shoppers to downsize or seek out budget-friendly options.

Global market tensions are also playing their part. Former US President Donald Trump voiced dissatisfaction over US-Japan trade talks, and Treasury Secretary Scott Bessent warned of possible tariff hikes—both factors boosting gold's safe-haven appeal.

Nicholas Frappell, global head of institutional markets at ABC Refinery, added: “Weaker dollar and concerns about the impact if Trump's tariff deadline is not extended are supporting gold at the moment."

Whether you're eyeing a wedding set or a simple pair of earrings, it might be time to act fast—before gold gets even more golden.

Read More: The Gold Economy. Understanding Carats/Karats

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