Shoppers in Dubai are being warned about a new jewellery scam that offers gold at nearly 70% less than the prevailing market prices. This scam is taking advantage of the recent significant fluctuations in gold prices during early 2026.
Gold prices have seen a considerable range, peaking at over $5,500 per ounce in January and subsequently dropping to around $4,400 per ounce recently. Fraudsters are exploiting this volatility by presenting counterfeit deals that tempt buyers into costly traps.
Advice from Authorities and Experts
To protect themselves from falling victim to such scams, authorities in Dubai urge shoppers to:
- Remain cautious when encountering deals that seem too good to be true.
- Verify sellers thoroughly before making any purchases.
- Purchase gold only from trusted and certified dealers.
With the gold market continuing to be unstable, vigilance is key for consumers in Dubai to safeguard their money and avoid counterfeit products.
For ongoing updates on this issue, stay tuned to Questiqa World News.
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