Recently, the UAE gold buyers were finding relief in dipping rates. However, the global market shifted once again which led to the UAE gold price surge. As of this weekend, Dubai gold prices have jumped to Dh374 per gram for 22K. Therefore, it shows a noticeable increase from Dh368.25 on Friday morning and Dh365.25 on Thursday.
What Caused the UAE Gold Prices Surge?
The US job report released on 1st August 2025 was the primary trigger for the UAE Gold Prices Surge, which raised fresh concern over the strength of the American economy. Therefore, the international bullion price surged over $65 an ounce by reaching $3,363 according to the financial analysts.
An FX said, “This sentiment in the gold market has drastically shifted. Besides the jobs data, renewed fear on the trade tariffs, like the proposed 35% on canada, have further boosted the upward momentum in the gold price”.
Impact on UAE Gold Shoppers
This sudden increase in the gold price has affected the buying plan for many UAE residents, especially those who were hoping for the purchase of gold during the weekend dip. Therefore, retailers have begun the limited-period offer. For example, Damas is offering 0% making charge on select jewelry. However, those deals may not offset the steep increase in the base price.
Retailers Respond with Promotions
As we told you earlier, retailers have started working to attract buyers. Select jewellers are continuing the short-term incentive, like zero-making charge offers. However, these are restricted to specific designs and collections. Notably, these short-term offers are expected to draw the buyer’s interest despite the rising cost per gram, as the wedding and festive season is near.
Market Outlook
Analysts warn that further fluctuations are possible in the upcoming days based on the ongoing geopolitical tensions and any new economic indicators from the US or Europe. Moreover, the latest increase in the gold price is not only a result of the US job offers. In addition, it also shows the sign of uncertainty in the macroeconomy.
Should You Buy Now or Wait?
If you are planning to purchase jewelry, it would be great to act soon before the price climbs further. However, experts suggest you monitor the international gold trends and local retailers’ offers closely before making a big investment in gold in the UAE.
Read more:
The UAE digital dirhams are set to transform daily transactions.
12th Fail, Shah Rukh Khan & Rani Mukerjee Steal the Show at the National Film Awards 2025
