What record-high gold prices mean for UAE shoppers, investors today

Dubai: Gold, the world’s favorite safe-haven asset surged in August 2025, closing at $3,429 per ounce, just a whisper away from its all-time high then of $3,435 hit earlier in June. That’s a 3.9% jump in August alone and a staggering 31% surge so far this year, according to the World Gold Council.

But soon after the new month began, the yellow metal's powerful rally took on fresh legs. The global spot price of gold not only hit a record high of $3,578.50 at the start of the month, but shot past it even further days later, last settling at $3,586 per ounce - merely $14 away from $3,600-mark. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.)

For UAE residents, this means one thing: gold shopping is now at its most expensive in history. But whether you’re buying for weddings, saving for the future, or investing in bars and coins, the rally offers both opportunities and risks.

India, one of the world’s biggest gold markets, saw a powerful rally. Prices on the MCX hit ₹101,967 per 10 grams, a 34% jump in 2025 alone. Strong demand there has outpaced China, where investors turned instead to soaring stock markets.

The UAE, a global hub for gold jewelry and bullion, typically sees brisk buying when prices rise. While higher rates may pinch shoppers, they also reinforce gold’s role as a long-term store of value. For many residents, buying now secures assets against inflation and market uncertainty.

For those eyeing the gold souks or bullion counters this week, be ready — prices are hot, and they may get hotter.