Dubai — With Dubai’s 22K gold price holding steady at Dh383 per gram, UAE banks are ramping up promotions for their digital gold investment accounts, positioning them as a cost-effective alternative to buying jewellery.
According to banking executives, more customers are opening gold accounts to benefit from rising prices without incurring jewellery-making charges, which can erode investment returns. Gold has surged over 6% month-on-month and nearly 50% year-on-year, making it an attractive safe-haven asset amid global uncertainty.
Emirates NBD and other banks now offer low-entry options, starting from Dh500, with flexible top-ups and systematic investment plans (SIPs). Unlike traditional jewellery purchases, these accounts allow investors to accumulate gold digitally in small units.
Analysts note that while jewellery retains emotional and resale value, bank gold accounts offer liquidity, lower fees, and pure price exposure, appealing to a new generation of UAE investors.
