[Editor’s Note: Check the latest gold prices here.]
Even with the introduction of 14K gold pricing in Dubai and the UAE, jewelers anticipate that 22K will continue to lead the jewelry market among both locals and tourists.
“The Dubai jewelry customer has always prioritized purity,” said Anil Dhanak, managing director of Kanz Jewels. “In our market, gold jewelry is viewed as both a decorative piece and a long-term investment. Consequently, while buyers might compromise on design or the weight of a piece, they seldom compromise on purity. The preference for 22K is deeply ingrained, especially among residents from the subcontinent and the broader GCC region.”
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Anil Dhanak
“In terms of mainstream gold jewelry, I don’t see 14K overtaking the market in Dubai. The city’s reputation is built on quality, trust, and hallmark-certified purity, which strongly influences buying behaviors. While 14K might expand the variety and draw in younger, fashion-focused shoppers, it’s unlikely to sway traditional gold buyers who seek 22K for its resale value, liquidity, and cultural significance,” Dhanak told Khaleej Times.
Last week, the Dubai Jewellery Group, the leading trade association in the Dubai jewelry sector with over 600 members spanning all jewelry trade sectors including bullion, manufacturing, wholesale, and retail, released 14K gold rates for the first time.
The introduction of the 14K gold rate coincides with precious metal prices reaching record highs in Dubai and globally, exceeding Dh500 per gram for 24K in the UAE.
On Sunday, 24K, 22K, 21K, 18K, and 14K were priced 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, a decline of 0.36 percent.
Known as the “City of Gold,” buying gold jewelry is a top priority for tourists visiting the emirate due to the metal’s purity and the variety available in the city’s markets.
‘14K will find its own market’
Currently, local jewelers offer limited options in 14K gold jewelry. However, they believe 14K gold will gain popularity in the diamond-studded jewelry market.
“Overall, 14K will develop its niche, but the core of Dubai’s gold market will remain centered around 22K,” stated Dhanak.
Chirag Vora, managing director of Bafleh Jewellers, mentioned that Dubai has typically favored higher purities like 22K for traditional pieces and 18K for international fashion jewelry.
Chirag Vora
“Introducing 14K aligns the market with global trends, particularly in Western markets where 14K is prevalent,” he said, adding that Bafleh Jewellers primarily stocks 22K (traditional and bridal) and 18K (fashion and designer collections).
“We’ve started testing select 14K lines in modern bracelets, pendants, and studs to assess local demand, with plans for a broader rollout in the next two quarters if initial responses are positive,” he added.
Shamlal Ahamed, managing director for international operations at Malabar Gold and Diamonds, stated that they offer a broad range of lightweight jewelry, including stylish 18K designs suited for everyday wear.
“Despite high gold prices, this only solidifies its status as a reliable and appreciating asset. Customers continue to view gold not just as adornment, but as a timeless investment combining beauty with enduring value,” said Ahamed.
