Gold markets have witnessed a notable surge in buying and selling activity in recent weeks, with demand rising by more than 20%, coinciding with the Eid Al Adha holiday, as shoppers increased their purchases of gold gifts and jewellery in local markets.
The upturn was driven by the relative stability of gold prices compared with previous periods, which encouraged shoppers to buy and invest in gold jewellery of various kinds.
Tawheed Abdullah, Chairman of the Dubai Gold and Jewellery Group, confirmed that markets are currently experiencing a remarkably brisk pace of activity, noting that Eid-related gifts rank among the best-selling products, particularly jewellery intended for children such as bracelets, chains, and lightweight gold pieces, which are proving highly popular as the Eid season approaches.
Heritage pieces, known as "Arabic gold", have made a strong return to the forefront of demand, Tawheed said, pointing to a broad segment of buyers gravitating towards traditional designs that carry a Gulf and Arab heritage character. Factories and design workshops have intensified their efforts in recent months to offer innovative designs that blend modernity with heritage identity, with a focus on producing small, practical pieces suited to daily use and appropriate for all age groups.
The Chairman of the Dubai Gold and Jewellery Group added that markets have also seen the launch of new products reflecting national identity, with many gold shops presenting designs inspired by the map of the United Arab Emirates, some studded with diamonds and precious stones, alongside jewellery featuring colours and elements inspired by the country's flag — all of which have attracted wide interest and strong demand from shoppers and tourists alike.
He pointed to the diversity in designs and products, alongside the promotional offers presented by retailers, as factors that have contributed to boosting market activity and increasing purchase rates, affirming that the gold and jewellery sector is currently experiencing a state of clear vitality and optimism, with expectations that momentum will continue throughout the Eid season and the period ahead.