Gold Prices See a Sharp Spike
In a significant development over the past three days, Dubai’s gold prices have risen by almost Dh10 per gram, drawing the attention of both local residents and tourists alike. As of now, 22K gold is retailing at Dh374 per gram, while 24K gold is priced at Dh403.75 per gram. This marks a substantial increase from last weekend’s rates, with indicators pointing towards a further possible hike of Dh1-Dh2 per gram in the coming days.
Gold, being a popular purchase in Dubai for both investment and ornamental purposes, tends to witness high demand during festive periods and shopping seasons. With summer in full swing and promotional events underway, the city is seeing a rise in consumer activity despite rising prices.
Shoppers Turn to Seasonal Offers Amid Rising Rates
While the increase in gold prices might normally dampen consumer interest, Dubai’s retailers are turning the tables with a slew of seasonal discounts and promotional offers. The city is currently buzzing with activity thanks to ongoing summer sales and Dubai Summer Surprises (DSS) 2025, a shopping festival that is offering everything from lucky draws to heavy price slashes on selected items.
To make up for the rising prices, many jewellery brands and gold retailers are offering zero making charges, cashback offers, discounts on diamond jewellery, and bundle deals that combine gold jewellery with gifts or vouchers. These incentives have proven to be a strong pull for shoppers who are trying to make the most of their summer budgets.
Tourists and Residents Alike Joining the Gold Rush
Dubai has long been a global hotspot for buying gold, thanks to its tax-free policies, competitive pricing, and high purity standards. With the tourism sector witnessing a boost this summer, many international visitors are taking advantage of their stay to shop for gold.
Tourists from countries like India, the UK, and other parts of Asia are especially active in the gold market, often purchasing for both personal use and gifting purposes. Meanwhile, UAE residents – especially those preparing for weddings, engagements, or festivals – are also making strategic purchases before any further price surges.
DSS 2025 Plays a Pivotal Role in Boosting Sales
The Dubai Summer Surprises 2025 (DSS) festival, known for driving footfall to malls and retail outlets during the summer months, has come at a perfect time for gold retailers. The event is designed to support various industries through exciting consumer campaigns, and the gold and jewellery sector has been one of the biggest beneficiaries.
Retailers are capitalizing on the DSS platform to introduce limited-time deals, raffles, and even gold coin giveaways for shoppers who spend over a certain amount. These marketing strategies are not only helping sustain buyer interest during the price hike but also boosting overall sales volumes.
Gold Still Considered a Safe Haven Investment
Despite the price rise, many consumers view gold as a safe and long-term investment, especially amid global economic uncertainties and inflation concerns. Analysts suggest that the price of gold may continue to rise in the short term, driven by geopolitical tensions, central bank purchases, and fluctuating currency rates.
For investors and long-term buyers, the current market conditions serve as a reminder of gold’s value as a hedge against inflation and a stable store of wealth. Some buyers are even increasing their purchases with the expectation that prices may rise further in the coming months.
Retailers Expect Further Momentum Ahead
According to industry insiders, the upward price movement hasn’t significantly deterred customers so far. In fact, many jewellery showrooms have reported increased foot traffic, with consumers eager to lock in current prices before the next possible surge.
“With the DSS and summer offers ongoing, we’re seeing strong interest in gold jewellery purchases. Many customers are aware of global trends and don’t want to miss out before prices rise further,” said a spokesperson from a leading gold retail chain in Dubai.
Consumers Urged to Compare Prices and Offers
Given the dynamic nature of gold pricing and the sheer variety of offers available, experts advise consumers to compare rates and promotions across multiple outlets before making a purchase. Factors such as making charges, weight, design intricacies, and brand reputation can significantly impact the final price.
Digital tools and apps that track live gold rates and provide deal comparisons have become increasingly popular among buyers who want to make informed decisions.
Outlook for the Coming Weeks
With the global gold market showing signs of continued volatility, Dubai’s local gold prices are expected to stay on an upward trend, at least in the short term. However, the presence of robust promotional activity, especially under DSS 2025, is likely to balance consumer sentiment and keep the market active.
As the city heads deeper into summer and prepares for upcoming holidays like Eid, the demand for gold is likely to remain steady — driven by a mix of investment motives, cultural traditions, and attractive offers that make Dubai one of the world’s most competitive gold markets.