Softening gold price may revive demand

Shoppers in Dubai wait for price to fall below Dh360 a gram before hitting stores

- BY MANOJ NAIR Business Editor

The Dubai gold price could fall below Dh370 a gram for 22 carats for the first time in 20 days, offering partial relief for UAE shoppers.

The last time prices were lower was on July 31, when 22 carat gold was at Dh368.25, and a day earlier at Dh365.25.

At that time, many hoped prices would slip further to Dh360 levels — but that never materialised. Throughout August, rates held above Dh370.

Now, signs suggest that gold’s upward momentum may be easing. If prices dip below Dh370, it could revive interest in jewellery demand.

Buying season

September traditionally marks the start of the UAE’s gold buying season, with tourists returning and wedding-related jewellery enquiries picking up.