As the Dubai Summer Surprises (DSS) opens today, gold buyers in the UAE are watching closely — not just for falling gold prices, but also for the Dh500 drop in raffle entry fees, now reduced to Dh1,000.
Retailers believe the lowered raffle threshold will spark renewed interest among budget-conscious shoppers, especially those making gold purchases in the Dh1,500–Dh3,000 range, a common bracket during DSF and DSS events.
The real trigger, however, may be the local gold price, which opened lower today and is hovering just above Dh370 per gram for 22K gold. If it dips below this psychological mark, it could boost weekend sales.
Globally, bullion prices dropped over $30, bringing gold to $3,299 per ounce, its lowest in nearly a month, even as the U.S. dollar weakens. The drop contradicts typical trends, prompting speculation of a temporary shake-up in gold markets.
Retailers are hopeful. “This is the price zone where regular DSS shoppers usually return,” said one trader. If the price stays under Dh370, it could fuel both raffle ticket sales and gold demand through the weekend.
