Gold jewellers in the UAE are enjoying robust Diwali sales, with shoppers continuing to purchase jewellery despite elevated prices.
Diwali, celebrated as the festival of light, is more than just a time for gifting jewellery; it embodies prosperity, family, and tradition. Many jewellers in the UAE design ornaments specifically for the festival, as sales surge during this period. They also offer gold deals and discounts along with exclusive collections to capitalize on the season.
This past Sunday, gold prices were near record highs. Dubai Jewellery Group reported 24K, 22K, 21K, and 18K gold trading at Dh512.25, Dh474.25, Dh455, and Dh390 per gram, respectively. Spot gold ended the week at $4,249.94 per ounce, a 0.94% decline. It reached a peak of $4,378.98 per ounce the previous week.
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“Jewellery sales are thriving despite high gold prices, largely due to customer trust in the brand and the allure of new festive collections. Festive purchase interest remains high, driven by timely offers and product innovations,” stated Aditya Kejriwal, head of marketing, International Business Titan Company Limited.
Moreover, Kejriwal noted, consumer preferences continually evolve… The festive season is marked by celebration, gifting, and tradition. We’ve always provided excellent exchange value, and this festive season, it’s even better,” he remarked.
Anuraag Sinha, managing director of Liali Jewellery, noted that UAE jewellery demand fell 18% year-on-year in Q1 2025.
From April to June, jewellery sales dipped to about 7.7 tonnes, marking a 16-17% decrease compared to the same period the previous year.
A Joyalukkas spokesperson commented that despite record-high gold prices, interest hasn’t waned; rather, buying patterns have shifted.
“Some shoppers are making more deliberate choices, opting for lighter, smaller designs or investing in symbolic pieces like gold coins or keepsake jewellery. While total volumes may show more cautious spending than last year, Diwali sentiment remains strong, and demand for meaningful, high-quality jewellery persists. Essentially, the cultural significance and love for gold outweigh short-term market changes,” said the spokesperson.
Joyalukkas emphasized that the focus remains on preserving the joy of gifting and owning gold, even in a high-price market.
“We are committed to sustainable, responsible sourcing and ethical practices across our operations to build customer trust and benefit the broader community,” the jeweller added.
