Prime Highlights:
- Gold prices in Dubai stay firm over AED 370 per gram even with market fluctuations.
- Diamond jewellery observes discounts of up to 75% with intense summer offers.
Key Facts:
- 22K gold is trading at AED 368–373 per gram, while 24K still over AED 400.
- Retailers are offering zero-deduction exchange of gold and substantial discounts on diamonds.
- Summer offers encompass making charges reduction, raffle draws, and cashback incentives.
Key Background:
The gold market in Dubai is experiencing steady but high prices, with 22K gold constantly trading above AED 370 per gram. In spite of that, regional gold buyers continue to be actively involved, owing to well-thought-out campaigns initiated by the jewellery retailers and the Dubai Jewellery Group. Global economic factors and geopolitical tensions have driven international bullion prices higher, with the latter influencing retail gold prices indirectly.
To encourage purchasing activity in this peak-price phase, retailers are launching a range of summer promotions. These include one of the most popular promotions–the zero-deduction gold exchange program, whereby consumers can exchange their existing gold for cash at full market price. The program is enabling consumers to make up for the effects of prevailing high rates, providing them with superior value for their gold holdings.
Meanwhile, diamond jewellery is also getting aggressively promoted, with prices marked down up to 75% on certain products. Sellers want to attract not just gold consumers but also lifestyle and wedding shoppers seeking luxury at a lower cost. Some stores are also packaging other added values such as full-value exchanges, buy-one-get-one promotions, and gift certificates to sweeten the overall shopping experience.
These deals are all part of the larger Dubai Summer Surprises (DSS) initiative, a shopping season that is characterized by discounted prices, fun, and winnable prizes. This year’s DSS comes with raffle draws for customers who spend AED 1,000 and above, with prizes such as gold bars and holiday packages. The campaign is also lowering jewellery-making fees to make the purchases more attractive, particularly in a market situation where customers are on edge about spending given high gold prices.
Despite international events like temporary political truces that have marginally softened bullion prices, Dubai rates continue to be within a tight trading band. Most customers are opting for price-lock facilities, where they can get today’s price and can make the purchase within 30 days—offering flexibility during unpredictable price action.
Overall, Dubai’s jewellery market is skillfully balancing high gold prices with creative promotional strategies, ensuring sustained consumer interest across both gold and diamond segments.
