UAE Gold Prices surged to a record high on Tuesday, reflecting continued strength in the precious metals market. The 24-carat gold rate opened at Dh502.50 per gram, while 22-carat gold traded at Dh465.25 per gram. This jump follows Sunday’s closing prices of Dh490.50 and Dh454.25, respectively, signaling strong investor and consumer interest.
Globally, gold climbed to $4,141.5 per ounce on October 14, marking a 0.70 percent increase from the previous day. Over the past month, prices have risen more than 12 percent, driven by market uncertainty and inflation concerns. Since early 2025, gold has surged over 25 percent, outperforming stocks, bonds, and oil. Analysts attribute the rally to a weaker US dollar, steady interest rates, and geopolitical tensions.
For consumers in the UAE, rising gold prices present both challenges and opportunities. Retail jewellery buyers face higher costs for the same amount of gold, while investors continue accumulating it as a hedge against inflation. Jewellers note that sales patterns are changing rather than declining. Arjun Dhanak, Director at Kanz Jewels, explained that buyers spending Dh10,000 today receive less weight than last year, yet demand remains steady.
Moreover, the approaching Diwali festival is driving strong gifting demand. Customers prefer smaller, lighter pieces to manage costs without compromising tradition. Jewellery stores across Dubai report consistent foot traffic and interest, especially for affordable gold items and investment pieces.
The UAE Gold Prices rally also reflects broader economic and social factors. Investors view gold as a safe asset amid global uncertainty, while local consumers adapt purchasing habits to manage budget constraints. The surge in demand may continue influencing retail strategies and pricing adjustments in coming months.
Looking ahead, analysts expect gold to remain in high demand as inflation concerns persist. Market watchers advise buyers and investors to monitor global indicators and interest rate decisions closely. As UAE Gold Prices continue to set new records, both jewellery lovers and investors are adjusting strategies to navigate this strong market trend.
