Gold prices in Dubai have reached new record highs, with 22K gold crossing Dh600 per gram for the first time. Globally, gold surpassed the $5,500 milestone, driving the soaring prices in the UAE. However, this surge in gold price has led to a significant drop in the demand for gold jewellery in Dubai.
In 2025, the demand for gold jewellery fell by 15% compared to previous years. Experts say the record-high gold prices have made buyers hesitant, reducing the volume of jewellery purchases. Despite the decline in demand volume, the value of gold markets has actually increased due to the higher prices compensating for lower sales.
This trend highlights a unique market dynamic where consumers are buying less jewellery but overall spending remains high because of the price rise. The sharp rise in gold prices in Dubai reflects broader global trends and impacts both consumers and businesses reliant on the precious metal industry.
Many are watching closely how the market will adjust to these changing conditions moving forward. Stay tuned to Questiqa World News for more latest updates.
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