Gold prices in Dubai have surged again, with 22K gold rising to Dh370 per gram—the highest level seen since June 23. The overnight spike of over Dh3 has sparked fresh concerns among jewellers about the potential impact on summer-season sales.
Retailers report that consumer momentum was building last week, particularly as many buyers took advantage of earlier dips and locked in gold at Dh365.75 levels. For those shoppers, the recent increase has reaffirmed their decision.
However, traders remain cautious. “Any time gold hits or crosses Dh370, footfall slows,” one retailer noted. Promotions like the Dubai Summer Surprises 2025 gold raffle are helping to cushion the impact, especially after the minimum spend for entry was reduced to Dh1,000.
Globally, gold crossed $3,300 an ounce this morning after gaining over $40—despite a relatively stable economic and geopolitical landscape. This unexpected jump is leaving analysts puzzled and the local jewellery trade on edge as they brace for how long the spike might last.
