Dubai Gold Rate Falls to Mid-April Lows, Boosting Pre-Booking Ahead of Key Festival
The gold price in Dubai has taken a sharp dip ahead of the coming Indian festival Akshaya Trithiya, sparking a surge in shopper interest. With prices falling to their lowest since mid-April, residents and visitors alike are rushing to pre-book their purchases for April 30, when buying gold is considered highly favourable.
Dubai Gold Price Hits Dh369 a Gram
As of this weekend, the Dubai Gold Rate for 22-karat gold is pegged at Dh369 per gram, significantly down from the highs of over Dh380 recorded last week. Just days ago, on April 21, the rate had touched Dh388, making the current price drop a welcome relief for potential buyers.
“I was always planning to buy gold for Akshaya Trithiya,” said one excited shopper. “But seeing prices fall from Dh388 to Dh369 makes it a big bonus. Booking today feels like a smart move.”
Industry experts suggest that now could indeed be the perfect window to lock in purchases. Some market analysts predict that the global gold price could ease even further, potentially settling at around $3,280 per ounce.
Also Read: Dubai Gold Rate Surges Above Dh370: More UAE Shoppers Turn to Smart Monthly Gold Instalment Plans
Expectations of Further Declines
Throughout Friday, gold enthusiasts and sellers in the UAE were hopeful that the Dubai gold rate might dip even further to Dh367 per gram. On the international market, gold bullion, which had earlier soared past $3,500 per ounce earlier in the week, has now pulled back to $3,318.
This cooling trend offers a promising scenario for buyers who have been cautious amid volatile price surges. The recent pullback restores some balance after weeks of steep increases that had dampened retail gold sales across the region.
Retailers Gear Up for a Sales Boost
Jewellery retailers are optimistic about a significant turnaround in sales during the last week of April. Apart from the traditional spike associated with Akshaya Trithiya, Dubai’s gold market is also gearing up to welcome tourists arriving for the Arabian Travel Market next weekend.
“It doesn’t matter if shoppers are buying gold bars or jewellery,” said one retailer. “We’re just excited to have them back in stores. The recent price spikes scared off many customers.”
The sentiment among retailers is clear: while they expect that gold could climb back toward the $3,500 mark, a more gradual and steadier rise would be much healthier for the market than the sudden leaps seen in recent weeks. In India, gold prices are showing a similar trend. The price of one gram of 22-karat gold dropped to Rs8,760, down by Rs66 — reinforcing the global easing in prices and encouraging more buying interest.
Akshaya Trithiya: A Golden Opportunity
Akshaya Trithiya is traditionally viewed as one of the most auspicious days for buying gold among Indian communities, many of whom reside in the UAE. Over the years, it has consistently been one of the biggest single-day sales events for gold retailers in Dubai.
With the current dip in the gold price, retailers are confident that April 30 could mark a record-breaking day for gold sales this year. Whether it’s bars, coins, or elaborate jewellery pieces, shoppers are eager to make the most of the favourable rates.
“We’re seeing strong early bookings already,” said another retailer. “Customers understand that a price like this may not last much longer.”
For shoppers planning their gold buys for Akshaya Trithiya, the message is clear: this weekend offers a golden opportunity to secure lower rates before potential fluctuations hit the market again.
You may also read: Gold Price in Dubai Surges by Dh7: Shoppers Surprised as Akshaya Trithiya Approaches
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