Ahead of Onam, Dubai gold price shoots back to highest in 30 days at Dh379.25

Shoppers worry whether this latest spike will set new UAE gold price high

Last updated: August 28, 2025 | 14:13

Manoj Nair, Business Editor

1 MIN READ

Dubai gold price surges back to near Dh380. Can this go all the way to a new record of Dh384?

Ahmad Alotbi/Gulf News

Dubai: The Dubai gold price has shot back to its highest level in the last 30 days, at Dh379.25 a gram for 22K, adding to the concerns of those shoppers in the UAE who had plans for purchases.

The current rate matches that on August 8 - now, the wait will start to see whether gold will push back over Dh380 all over again. And of course, whether there is a chance it will rush higher to beat the current all-time high of Dh383.75 from June.

Also Read: UAE gold shoppers switch to 'extra-lite' 22K jewellery for investments

If the prices continue, it could severely dent UAE gold sales for the festival buying during Onam, which is in the first week of September.

"This is the worst phase for shoppers thinking of buying gold," said a retailer. "Onam gold sales are not a big part of the UAE retail calendar, but we were hopeful of some buying activity this year. All the big jewellers have Onam collections ready - but if shoppers are looking at possible record gold prices, it's going to be difficult."

According to analysts, UAE gold prices could range between Dh378 to Dh382 a gram for 22K, and with a good chance of breaking to Dh384.

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.