This week’s dramatic increase in gold prices in the United Arab Emirates, which closed around Dh5 per gramme higher, prompted analysts to advise consumers to postpone purchases. Global market jitters after fresh worries about possible U.S. tariff hikes are blamed for the abrupt spike, which usually drives investors to safe-haven assets like gold.
Dubai gold retailers reported a slowdown in foot traffic as price-sensitive buyers adopted a wait-and-watch approach. “Even a small fluctuation of Dh3–Dh5 per gram can significantly impact bulk buyers, especially those purchasing for weddings or investment,” said one gold retailer in Deira Gold Souk.
Global markets reacted swiftly to the U.S. government’s latest tariff threats, fueling speculation that gold rates could rise further in the short term. However, experts believe that prices may stabilize or even dip slightly once geopolitical tension eases and market sentiment calms.
For now, UAE shoppers are better off holding off on major purchases unless absolutely necessary. With gold being both a cultural and financial investment in the region, timing is everything—and a few days could mean the difference between a smart deal and overspending.
