Gold has proven to be a golden investment for UAE residents, as prices have skyrocketed by nearly Dh100 per gram in the past year. Many buyers now say their jewellery purchases in 2024 turned out to be among the smartest financial decisions they’ve made.
In the summer of 2024, 22K gold was priced between Dh279 and Dh290 per gram. Fast forward to this week, and the price has crossed the Dh380 mark, reflecting a significant increase that’s captured the attention of both investors and everyday buyers.
Data from the World Gold Council shows a steady rise in global gold prices since the third quarter of 2023. In fact, prices jumped by nearly $800 per ounce year-on-year in the first quarter of 2026. To put it in perspective, the average price per ounce was $1,928.5 in Q3 2023 and climbed to $2,859.6 in Q1 2026, showing the strongest upward trend in recent years.
Rajitha Nair, a PR and corporate communications professional in Dubai, recalls investing in gold last year. “I remember buying when 22K gold was about Dh290 per gram. Now it’s more than Dh380. That’s a big difference,” she said. “It’s one of the most satisfying purchases I’ve ever made — meaningful and financially rewarding.”
Rajitha adds that jewellery holds both sentimental and investment value. “Yes, coins and bars are purely for investment, but jewellery gives you something you can enjoy. It’s beautiful, wearable, and it grows in value.”
Another long-term resident, Pooja S., a sales and marketing executive, echoed similar sentiments. She bought her gold jewellery in 2024 when prices were Dh277 per gram. “If I were to buy those same pieces today, I’d pay about Dh2,450 more,” she noted.
Pooja also invests in gold bars and coins, appreciating gold’s role as a secure asset in times of uncertainty. Both women agree on one thing: now is not the time to sell. “Prices are climbing consistently,” said Rajitha. “Holding onto your gold now could mean even better returns in the near future.”
Beyond its investment appeal, gold carries deep cultural significance. “Gold is part of our heritage and lifestyle,” Rajitha said. “In the UAE, it’s not just about wealth — it represents tradition, beauty, and long-term security.”
Industry insiders are also taking note. Nirmal Kumar, senior executive at Yogesh Jewellers, describes the Dh100-per-gram increase as “exceptional,” calling gold “a perfect blend of emotional and financial value.”
“Gold jewellery, especially 18K and 21K, offers more than just financial return,” Kumar added. “It’s a tangible legacy — something people wear, gift, and pass down.”
Aditya Singh, who heads the international jewellery business at Titan Company (Tanishq), says today’s consumers are more informed and selective. “We’re seeing a rise in demand for lightweight, versatile, and customised jewellery,” he explained. “Young buyers want pieces that tell their stories — not just traditional designs, but modern looks that reflect personal identity.”
Transparency is now central to the retail experience. “Customers want to know what they’re paying for — gold rates, making charges, sourcing, and certification,” Singh said. “Brands that offer honesty and real value, rather than just sales gimmicks, are earning long-term loyalty.”
As gold continues to rise, UAE residents are not only enjoying the sparkle but also smiling at the smart choices they made just a year ago.
