WHY UAE EXPATS DITCH BANK SAVINGS FOR GLITTERING GOLD

More expats are trading low bank returns for gold's timeless appeal - here's why

- BY JUSTIN GEORGE VARGHESE Your Money Editor

In a country where skyscrapers rise from the desert and luxury feels like second nature, it's no surprise that gold — timeless, tangible, and trusted — is becoming the go-to savings tool for many UAE expats. While banks offer safety and convenience, more residents are now parking their money in gold instead. And it's not just tradition — it's strategy.

At a glance, gold may seem old-school. But in today's climate of rising living costs and shaky global markets, it's being reimagined as a smarter, more secure alternative to traditional savings accounts.

Like savings rates at most banks across the world, bank deposits in the UAE often offer returns that barely beat inflation. In contrast, gold has not only held its value historically but often outperforms in times of uncertainty. And lately? It's been on a roll. With record-high prices and analysts predicting more gains, gold is doing what many savings accounts can't — growing.

FOR UAE EXPATS, THE CASE FOR GOLD IS PERSONAL