Dubai — Gold shoppers in Dubai are welcoming yet another drop in prices this week, just in time for Akshaya Trithiya celebrations on April 30. The Dubai gold rate for 22K dropped to Dh367 per gram, while 24K stands at Dh396.25, marking the lowest levels seen over the past seven days.
Retailers and analysts are optimistic that gold prices could decline further by Dh5 to Dh10 per gram in the next 48 hours, offering shoppers a golden opportunity to lock in lower rates ahead of the festive buying rush.
With Akshaya Trithiya — an auspicious day for gold purchases among Indian communities — approaching, early signs point to heightened consumer activity. "We have seen a strong trend of early bookings, with shoppers keen to secure current prices before potential increases," said a Dubai-based jeweler. "There’s a clear expectation that prices might dip even more before April 30."
Favorable Timing for Buyers
Although the current rates are lower compared to the last week, they are still above the lowest seen earlier this month. On April 7, 22K gold had dipped to Dh331.5 per gram and 24K to Dh356.25. Since then, several global factors — including tariff announcements and fluctuations in the US dollar — have kept the bullion market volatile.
"Today’s price point is attractive for investors and buyers alike," noted a commodities analyst. "The recent weakening of the dollar and international market trends suggest there is room for further corrections."
Retailers Slash Making Charges
In addition to falling gold prices, Dubai retailers are sweetening deals by cutting making charges by as much as 50 percent — and in some cases, waiving them entirely for gold coin purchases.
“Customers are particularly excited about promotions where making charges are minimal or removed altogether,” said a retailer. “It increases their overall savings and makes gold buying much more attractive.”
Global Bullion Trends
On the international front, gold was trading at $3,280 an ounce early Monday, down from $3,318 at the previous week’s close. Analysts suggest that another $30–$50 per ounce dip could further strengthen buyer sentiment, giving shoppers a much-needed break after weeks of high gold prices.
As anticipation builds, all eyes are on the next two days — with buyers hoping to make the most of this rare price window during one of the most significant gold-buying festivals of the year.
