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