Gold prices in Dubai have slipped below Dh370 per gram, offering a welcome breather for shoppers after rates came close to Dh380 earlier this week. With Eid Al Adha approaching, this dip could encourage increased activity in the local gold market.
The Dubai Gold & Jewellery Group has launched a week-long promotional campaign from June 2 to 9 to coincide with the holiday. Offers include zero deduction on gold exchanges and “half-back” deals aimed at easing price concerns among buyers.
Industry insiders believe even a 20–25% sales boost would be a significant win under current market conditions. “These promotions directly address consumer hesitation due to recent high prices,” said a local retailer.
For those not looking to buy or exchange, selling old gold for cash remains an option. “We test for purity and offer highly competitive rates based on current prices,” said Karim Merchant, CEO of Pure Gold. “It’s a transparent process aligned with regulatory requirements.”
Experts suggest selling may be most favorable when gold prices are Dh10 per gram off their peak within a 30- to 60-day window. However, timing remains crucial. “Many sellers regret not waiting for better prices,” said one trader. “For investors, strategic entry and exit points are key.”
Shoppers are also advised to retain all purchase invoices to facilitate exchanges or sales.
With prices stabilizing and Eid Al Adha around the corner, UAE residents now face a four-way choice: buy, exchange, sell—or simply hold on.
