Gold buying maintains robustness as tourists capitalize on price drop before journeys in UAE
In the dynamic world of gold trading, the current trend in the UAE is a testament to the resilience of its market. Following a recent dip in prices, buyers across the country have shown a strong and sustained demand for the precious metal.
As of June 30, 2025, the price of 22K gold in the UAE stood at approximately AED 366 per gram, a decrease from AED 377.5 the previous week. The 24K gold was priced at AED 396 per gram. This price drop has led to an interesting emerging behaviour among shoppers - the increasing popularity of "book now, buy later" schemes. Many residents are locking in current prices with a 30-day purchase window, anticipating potential further dips in gold prices.
The ongoing demand for gold in the UAE reflects a cautious optimism in the market. Despite seasonal factors, retail footfall remains strong, with promotional incentives like the Dubai Summer Surprises (DSS) gold raffle encouraging purchases. This ongoing demand signals that consumers and investors view the current price dip as a buying opportunity rather than a deterrent.
The UAE's status as a vibrant gold market is further underscored by these trends. International gold prices, as of the mentioned period, are around $3,200. Some traders speculate that if prices dip below this figure, gold prices could potentially extend to $3,000. However, the longevity of these prices is not guaranteed.
Gold remains a popular asset for investors seeking to hedge against inflation or uncertainty. Despite potential monthly drops, the precious metal is currently up about 25% this year.
Gold traders are closely monitoring the US dollar and global risks for potential impacts on gold prices. The US dollar eased slightly, and markets are awaiting progress on American tax talks and trade negotiations set to conclude by July 9. The recent price slide in gold may have been an overreaction to easing conflict fears, according to some traders.
In conclusion, the current trend in gold buying in the UAE underscores the resilience of the market and the continued appetite for gold among consumers and investors. The "book now, buy later" schemes and the ongoing demand despite seasonal factors are indicative of a market that remains robust and dynamic.
- Amidst the increasing popularity of "book now, buy later" schemes, some residents in the UAE are seizing the current price drop in gold as a potential buying opportunity.
- The popularity of gold, both as a consumer commodity and an investment asset, is not restricted to the UAE; it extends to global markets, with international prices hovering around $3,200.
- Despite the fluctuations in gold prices, many view the precious metal as a valuable hedge against inflation and market uncertainties, with gold being up approximately 25% this year.
- Gold traders in the UAE are keeping a close eye on developments in the US dollar, global risks, and major economic events like American tax talks and trade negotiations to gauge their potential impact on gold prices.
