Dubai Gold Prices Rise by Dh3 as UAE Shoppers Seek Summer Discounts
As the summer shopping season kicks into high gear, gold prices in Dubai have seen a slight increase, with the cost of 22K gold rising by Dh3 to reach Dh371.50 per gram.
This uptick comes after two consecutive days of price drops and follows the recent ceasefire in the Israel-Iran conflict, which has affected global markets.
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Shoppers are eagerly seeking the best deals as local jewellers roll out extensive summer promotions. Many retailers are offering significant discounts, with potential savings of up to Dh10 per gram for buyers who act quickly.
The market is currently predicted to stabilize within the Dh368 to Dh373 range, with hopes that prices may dip further toward Dh365 in the coming days.
Leading jewellery brands are responding to consumer demand with enticing offers. Malabar Gold & Diamonds is running a campaign through July 6 that includes cash vouchers for purchases over Dh3,000.
Joyalukkas has cut making charges by 50%, while Tanishq offers up to Dh25 per gram on gold exchanges in collaboration with Lulu Hypermarket, where shoppers can also enter to win diamond prizes worth Dh2 million.
Retailers are optimistic about attracting customers during this “summer of gold.” Tawhid Abdullah, head of the Dubai Gold & Jewellery Group, highlighted the focus on creating engaging shopping experiences that offer memorable value.
With the summer travel season approaching, many residents are looking to purchase gold for gifts or personal use, making this an ideal time for retailers to showcase their offerings.
As shoppers navigate the fluctuating prices, the anticipation of potential further discounts keeps the excitement alive in Dubai’s gold market.
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