Dhanteras 2026: What gold trends are UAE buyers looking for
Gold is Dh35 a gram cheaper than last Diwali, yet buyers are choosing lighter designs
Dubai: As Indian expat families across the UAE prepare to celebrate Dhanteras and Diwali, jewellery shopping remains an important part of the festive ritual. But with gold prices having experienced dramatic swings this year, the traditional festive purchase is increasingly being shaped by budgets, wearability and the search for value.
Jewellers say customers are not necessarily abandoning gold. Instead, many are choosing lighter chains, smaller bangles and contemporary designs. Natural diamonds and coloured gemstones are also finding a place alongside traditional 22-karat gold jewellery.
The shift reflects a changing approach to festive spending. Shoppers still want something meaningful to mark the occasion, but they are becoming more deliberate about what they buy and how much they spend. With Dhanteras falling on November 6 and Diwali on November 8 this year, retailers are preparing for a busy festive period, even as buyers keep an eye on gold rates that are tied to the many external factors.
John Paul Alukkas, CEO of Joyalukkas Jewellery, said the festive shopping basket has changed considerably over the past five years.
“If I look back five years, the festive basket was heavily dominated by traditional, heavier bridal sets and classic gold. Today, the mix is far more dynamic. Our top sellers right now are lightweight gold chains, versatile diamond pendants and everyday-wear bangles.”
He said the shift was not necessarily about consumers buying less jewellery, but about finding pieces that could be worn beyond a particular festival or occasion.
“The shift isn’t about customers buying less, it’s about them buying smarter. They want pieces that offer the festive feeling but can seamlessly transition into their everyday wardrobe. It’s a beautiful blend of tradition meeting modern practicality.”
Lightweight gold and everyday designs lead the shift
Across jewellery retailers, lightweight designs are emerging as an important response to higher gold prices, while traditional pieces continue to hold their place during festivals and weddings.
Shamlal Ahamed, managing director of international operations at Malabar Gold & Diamonds, says customers were showing interest in collections spanning natural diamonds, precious gemstones and contemporary stackable gold jewellery collections.
“Over the past five years, consumer preferences have become increasingly diverse. While traditional gold jewellery continues to remain a festive favourite, customers are also embracing lightweight, contemporary designs, natural diamond jewellery, coloured gemstones, and everyday-wear pieces that offer both style and value,” Ahamed said.
At Bafleh Jewellers, traditional 22-karat gold jewellery remains popular, particularly necklaces, bangles and chains. The retailer is also seeing interest in lightweight everyday pieces, diamonds and contemporary designs.
Chirag Vora, managing director of Bafleh Jewellers, says customers had become more conscious of both design and price as gold became more expensive. “Customers are increasingly looking for pieces that offer aesthetic appeal, cultural significance and long-term value.”
At Kanz Jewels, the mix also reflects the UAE’s diverse customer base. Anil Dhanak, managing director of Kanz Jewels, says Indian customers continued to favour 22-karat gold jewellery for festivals, weddings and gifting, while Western customers generally showed a stronger preference for 18-karat pieces.
The differences highlight how retailers must cater to a range of cultural traditions, personal tastes and spending capacities, even as the broader market adjusts to changing gold prices.
How are shoppers managing gold prices
Gold prices have been volatile in 2026, making timing a key consideration for consumers planning festive purchases.
On November 3, 22-karat gold in Dubai was priced at Dh439.25 per gram, while 24-karat gold stood at Dh474. On Diwali day last year, October 20, 2025, the corresponding rates were Dh474.25 and Dh512.25 per gram, respectively.
That puts 22-karat gold about Dh35 per gram below its level on the same festival date last year. The 24-karat rate is lower by Dh38.35 per gram, roughly around 7 per cent. These are reference gold rates, excluding jewellery-making charges and other applicable costs.
The comparison, however, captures only one point in a particularly turbulent year. Gold surged to a record of around $5,595 an ounce in January before retreating sharply towards $4,000 amid changing expectations for US interest rates, a stronger dollar and the impact of the Iran war on oil prices and bond yields.
For shoppers, the recent pullback offers some relief compared with last year's festive peak, but it does not remove the uncertainty surrounding future prices.
Joyalukkas' Alukkas says customers were responding to that uncertainty by changing the composition of their purchases rather than simply waiting for gold to become cheaper.
“It's a fascinating shift in behavior. Are they buying fewer grams? Yes, on average. Are they spending more overall? Also, yes. And are they holding off? Some are, but the majority are simply pivoting.”
He says customers were often keeping to a similar budget while opting for lighter, more intricately designed pieces, exchanging old gold or considering diamond jewellery instead of heavier gold sets.
Bafleh's Vora described a similar pattern, with some shoppers maintaining their planned spending but buying fewer grams, while others were selecting smaller pieces to remain within their budgets.
Dhanak of Kanz Jewels said higher prices had not removed the desire to buy gold during auspicious occasions.
“When prices rise, consumers tend to adjust their budgets by purchasing lighter pieces or fewer grams rather than abandoning their purchases altogether. We therefore remain optimistic about festive demand.”
For many households, the decision is not simply a calculation based on the daily gold rate. Gifting, weddings and long-standing family traditions continue to influence when and why jewellery is purchased.
Can buying schemes help shoppers?
Retailers are also using advance-payment plans, exchange programmes and festive promotions to make purchases more manageable.
Malabar Gold & Diamonds said its programme allowing customers to pay a 25 per cent advance and lock in the prevailing gold rate had been particularly popular during the festive season.
“Rather than postponing purchases, many are actively seeking ways to maximize value through planned buying,” Ahamed said.
Such schemes can help buyers manage the risk of prices rising before they complete a planned purchase. However, customers should check the scheme's terms, including whether the rate is genuinely locked, how cancellations are handled and whether additional conditions apply.
Exchange programmes offer another option for customers who have older jewellery they no longer wear. Exchanging existing gold for a new design can help reduce the additional cash needed, although the final value depends on the weight, purity, deductions and the retailer's exchange terms.
The key consideration is the total bill, not just the advertised gold rate. Making charges, stone costs and applicable taxes can significantly affect the price of a finished piece.
What are jewellers expecting this Dhanteras and Diwali?
Despite the uncertainty surrounding prices, jewellers remain broadly optimistic about festive demand, although they expect buying patterns to continue evolving.
Malabar Gold & Diamonds expects demand to be supported by festive purchases and the upcoming wedding season.“For many families, buying gold during Dhanteras and Diwali is not just a purchase decision but also a cherished tradition, and we expect that sentiment to continue driving strong demand,” Ahamed said.
Joyalukkas expects the overall value of purchases to remain robust even if customers buy fewer grams of gold.
“If prices keep climbing, I expect the volume of gold in grams to adjust, but the overall value of purchases to remain robust. Customers will lean towards beautiful, lighter designs, diamonds or take advantage of our exchange programs,” Alukkas said.
Bafleh expects demand to remain meaningful but potentially more measured if prices rise further. Vora said consumers were likely to focus on lightweight jewellery, smaller purchases and designs balancing affordability with visual appeal.
The retailer also expects purchasing power and consumer confidence, alongside gold prices, to influence the season's performance.
Will gold prices rise or fall from here?
The near-term direction remains uncertain. Factors like high US Treasury yields, a stronger dollar and expectations of another rate hike in December are global factors that will weigh in on gold. Most analysts have lowered their forecast for gold in 2026 and 2027.
However, central-bank buying, physical demand and concerns about government debt and currency depreciation may tend to provide support. These forecasts are estimates and not guarantees, which means gold can move sharply in either direction. And UAE retail rates will also move with international bullion prices.
For consumers wondering whether to buy now or wait for another dip, there is no way to identify the exact bottom. Those buying jewellery for a wedding or festival on a fixed date may prefer to work within a budget and choose a piece they can afford, rather than make the purchase dependent on a market prediction.
Shoppers with more flexibility can compare rates over several days, check making charges and consider whether an advance-payment scheme offers genuine protection against further price increases. Buying in stages may also reduce the risk of committing an entire budget at one price, although it cannot guarantee a lower overall cost.
As Dhanteras approaches, the timeless appeal of gold remains intact. What is changing is how families choose to bring a little festive sparkle home.
