[Editor’s Note: Find out the latest gold prices here.]
Despite the introduction of 14K gold prices in Dubai and the UAE, jewelers believe that 22K will continue to remain a dominant jewelry category for residents and visitors in the country.
“The Dubai jewelry customer has always been extremely particular about purity,” said Anil Dhanak, managing director of Kanz Jewels. “In our market, gold jewelry is traditionally seen as both an adornment and a long-term investment. For this reason, buyers may compromise on design or reduce the overall weight of the piece, but they rarely compromise on purity. The preference for 22K remains deeply rooted, especially among residents from the subcontinent and the wider GCC.”
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“In terms of mainstream gold jewelry, I do not foresee 14K becoming the dominant category in Dubai. The city’s reputation has been built on quality, trust, and hallmark-certified purity, and that sentiment strongly influences buying patterns. While 14K may help broaden the product range and attract younger shoppers looking for fashion-oriented pieces, it is unlikely to offset the impact of high gold prices among traditional gold buyers, who will continue to prefer 22K for its resale value, liquidity, and heritage appeal,” Dhanak told Khaleej Times.
Last week, Dubai Jewellery Group, the premier trade association for the Dubai jewelry industry with 600-plus members representing all sectors of the jewelry trade – including bullion, manufacturing, wholesale, and retail, published 14K gold rates for the first time.
The 14K gold price was introduced as precious metal prices hit a record high in Dubai and globally, surpassing Dh500 per gram for 24K in the UAE.
On Sunday, 24K, 22K, 21K, 18K, and 14K were selling at Dh505.75, Dh468.25, Dh449.0, Dh385, and Dh300.25 per gram, respectively.
Globally, gold closed the week at $4,197.81 per ounce, down 0.36 percent.
Known as the “City of Gold,” purchasing gold jewelry is one of the top priorities for tourists visiting the emirate, due to the metal’s purity and variety of choices in the city’s markets.
‘14K will carve out its niche’
Currently, local jewelers do not offer much in terms of 14K gold jewelry. However, they believe that 14K gold will see good demand in the category of diamond-studded jewelry.
“Overall, 14K will carve out its own niche, but the heart of Dubai’s gold market will continue to beat around 22K,” said Dhanak.
Chirag Vora, managing director of Bafleh Jewellers, said Dubai has traditionally favored higher purities like 22K for traditional pieces and 18K for international fashion styles.
“Introducing 14K aligns the market with global trends, especially Western markets where 14K is dominant,” he said, adding that currently, Bafleh Jewellers primarily stock 22K (traditional and bridal) and 18K (fine fashion and designer collections).
“We have begun piloting select 14K lines in contemporary bracelets, pendants, and studs to gauge local demand, with a broader rollout planned in the next two quarters if the pilot response remains strong,” he added.
Shamlal Ahamed, managing director for international operations, Malabar Gold and Diamonds, said they offer a wide portfolio of lightweight jewelry, including stylish 18K designs that blend with everyday wearability.
“While gold prices remain at record highs, this only reinforces its position as a trusted and value-appreciating asset. Customers continue to see gold not just as an adornment, but as a timeless investment that combines beauty with lasting worth,” said Ahamed.
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