Dubai gold price down nearly Dh10 in 3 days - there is a 'flash sale' on too

Dubai: At Dh373 a gram, the Dubai gold rate is down to its lowest level since July 17’s Dh370.5. That means the local price is Dh10 lower from what it was during Wednesday last.

Along with the price drop, UAE shoppers have this weekend’s flash sales with up to 50% discounts to decide whether to buy some more gold jewellery.

Gold retailers offering the 3-day flash sale say they are ‘encouraged by the vibes’ they got yesterday (July 25), which was the start day for the promotion. “The discounts are there on older and new collections alike – that’s meant to align with shoppers’ budgets where possible,” said a retailer.

“UAE consumers always react positively to flash sales and major discounts on offer.”

Leading jewellers are having 30%-50% price drops on older collections, and 10% off on select new designs. (Throughout the Dubai Summer Surprises, retailers have been running discounts on diamond jewellery.)

More than ever before, UAE gold shoppers are getting active only when offered clear-cut price-off promotions, or during major event-specific buying during the Indian festivals of Diwali, Dhanteras or Askhaya Trithiya.