emirates7 - Gold jewellery demand in the UAE dropped by 18% in the first quarter of 2025, falling to 7.9 tonnes from 9.6 tonnes during the same period last year. This decline was primarily due to high gold prices, which have dampened consumer demand.
Gold prices have been steadily increasing over the past few quarters, reaching a historic peak last month, hitting $3,500 per ounce globally and Dh420 per gram in Dubai.
Additionally, India’s recent move to reduce import duties on gold has also affected sales, as Indian nationals and tourists make up a significant portion of the UAE's gold jewellery market.
As of the weekend, gold prices stood at $3,241.36 per ounce, with 24K gold in Dubai priced at Dh390.5 per gram. Other gold types, such as 22K, 21K, and 18K, closed at Dh361.5, Dh346.75, and Dh297.0 per gram, respectively.
The surge in gold prices this year was largely driven by US President Donald Trump's decision to increase tariffs on other countries, sparking a trade conflict, particularly with China.
Gold prices have been steadily increasing over the past few quarters, reaching a historic peak last month, hitting $3,500 per ounce globally and Dh420 per gram in Dubai.
Additionally, India’s recent move to reduce import duties on gold has also affected sales, as Indian nationals and tourists make up a significant portion of the UAE's gold jewellery market.
As of the weekend, gold prices stood at $3,241.36 per ounce, with 24K gold in Dubai priced at Dh390.5 per gram. Other gold types, such as 22K, 21K, and 18K, closed at Dh361.5, Dh346.75, and Dh297.0 per gram, respectively.
The surge in gold prices this year was largely driven by US President Donald Trump's decision to increase tariffs on other countries, sparking a trade conflict, particularly with China.