Gold prices in Dubai have reached new record highs, with 24K gold selling around Dh664.5 per gram, just below the all-time peak of Dh666. This increase marks the best monthly gain in gold prices in 50 years. Globally, gold has surpassed the $5,500 mark, pushing the 22K gold price above Dh600 per gram in Dubai for the first time.
Despite these soaring prices, the UAE experienced a 15% drop in gold jewellery demand during 2025. This decline in demand reflects consumer reactions to the record-high prices, leading to fewer purchases of gold jewellery by volume. However, when measured in value terms, demand has actually increased across all markets. This indicates that although fewer pieces of jewellery are being sold, the overall value of gold jewellery sales remains up due to the higher gold prices offsetting the lower sales volume.
This trend highlights the significant impact of soaring gold prices on consumer behavior and the jewellery market in Dubai. The record-breaking price movements also point to ongoing economic factors influencing the precious metals market both regionally and globally. Investors and consumers are closely watching these developments as gold continues to make headlines in Dubai.
Stay tuned to Questiqa World News for the latest updates on this evolving story.
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