Gold Prices Spike in Dubai Just Before Akshaya Trithiya: Shoppers Rush to Buy
Gold shoppers in Dubai were caught by surprise this week as prices suddenly jumped by nearly Dh7 per gram. This happened after three straight days of falling prices. The rise comes just as the city prepares for Akshaya Trithiya, a key festival that traditionally boosts gold sales.
Gold Prices Soar Right Before the Festival
On the day of Akshaya Trithiya, the price of 22-karat gold in the UAE climbed to Dh264 per gram. Just a few days earlier, it was around Dh258. This sudden increase is linked to global market trends, where gold prices jumped by more than $50 overnight. Many buyers who booked gold in advance were relieved. They paid the lower prices, even though the market rates went up.
Jewellery Stores Launch Big Offers
To keep customers interested despite the price hike, UAE jewellers have introduced exciting offers. Malabar Gold & Diamonds is giving free gold coins on purchases above Dh3,000. They’re also accepting old gold without any deductions. Joyalukkas is offering zero making charges on select jewellery and giving away gift vouchers. Tanishq, another popular brand, is providing a 25% discount on making charges and diamond rates. They’re also offering a gold rate protection scheme. Customers can lock in today’s rate by paying just 10% in advance.
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High Hopes for Akshaya Trithiya Sales
Even though prices went up, jewellery retailers remain hopeful. Many customers already placed advance orders. In fact, some stores have already reached 60–70% of their sales goals before the festival. That’s a strong sign that Akshaya Trithiya demand is still solid.
A Festival That Shines Bright for Gold Buyers
Akshaya Trithiya is a special day for many families in the UAE, especially the Indian community. Buying gold on this day is believed to bring good luck and prosperity. That’s why gold sales during this time usually go up by four times compared to normal days.
With festive deals and cultural traditions in play, shoppers are expected to continue buying—no matter the price jump.
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