Dubai – Gold prices may be hovering around Dh370 per gram for 22K, but that hasn’t stopped budget-conscious shoppers from visiting Dubai’s jewellery stores.
Retailers at the Dubai Gold Souq report steady sales in lower-priced categories, particularly for plain gold bangles and chains weighing between 15 to 20 grams. Priced under Dh3,000, these simple designs come with minimal making charges, making them appealing to residents focused on investment rather than luxury.
“Shoppers spending Dh2,500 to Dh3,000 are still buying,” said Rohan Siroya, CEO of Evermore. “Traffic is lower overall, but this segment remains active.”
While overall demand has softened, especially for designer pieces, plain jewellery continues to attract consistent interest. The ongoing Dubai Summer Surprises (DSS) 2025 festival has helped maintain momentum, with shoppers qualifying for raffle entries after spending just Dh1,000, reduced from Dh1,500 in previous editions.
Still, retailers admit this has been the toughest summer since the pandemic, with high prices discouraging large purchases. Many buyers are waiting for gold to drop closer to the Dh360 range, a level last seen at the end of June.
“Fluctuating gold prices are making customers hesitant,” said a retailer. “But small-ticket sales are helping us get by.”
As summer travel season peaks, store footfall is expected to dip further, making the continued interest from budget buyers all the more vital.
