Dubai Gold Price Nears Dh400 â Best Time to Upgrade
Dubai Gold Prices Near Dh400: Why Shoppers Should Upgrade Old Jewellery Now
Dubai: Gold prices in the UAE are hitting record highs, prompting jewellery retailers to encourage customers to exchange old pieces for new collections. This approach benefits both buyers, who gain higher value, and retailers, who see increased trade activity.
Why Upgrading Matters
Jewellery purchased before August 31, 2017, at under Dh150 per gram for 22K gold now yields substantial profit. For example, exchanging such pieces today could add Dh243 per gram at current rates.
Current Prices:
22K gold: Dh393 per gram (expected to soon surpass Dh400)
24K gold: Dh424.25 per gram
Expert Insights
Shamlal Ahmed, Managing Director â International at Malabar Gold & Diamonds, said:
âWith the way prices are moving, gold could reach $3,700 an ounce by December.â
Global gold is currently around $3,531 an ounce, testing historic levels near $3,550.
Why Exchanging Makes Sense
Purchasing brand-new jewellery outright can be costly at todayâs rates. Exchanging older pieces, especially those bought before 2017 or May 2020 (when gold first crossed Dh200), ensures excellent returns. A Dh2,000 piece from back then can now fetch significantly more in exchange value.
Old-for-New Trend in Dubai
Exchanging jewellery is a long-standing practice among UAE residents and tourists. Recent spikes in upgrading occurred during:
November 2024 â Gold hit Dh300 per gram for the first time
April 2025 â Prices crossed Dh350 per gram
With prices now nearing Dh400, upgrading old jewellery has become one of the smartest moves for shoppers in Dubai.
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