Is Dubai seeing changes in jewellery buying trends in shops?

More shoppers in Dubai and the UAE are increasingly shifting to diamond jewellery as gold prices remain high. And those who buy gold jewellery opt for 18K ornaments, according to a report in Khaleej Times.

Gold prices hit a record of $2,790 per ounce last year, mainly due to interest rate cuts from the US federal Reserve, geopolitical tensions, and buying by central banks. On Wednesday, gold stood at $2,624.49 per ounce. In Dubai, 24K, 22K, 21K and 18K were selling at Dh318, Dh294.50, Dh285, and Dh244.25 per gram, respectively, on the first day of 2025.

Because gold prices had gone up so high, people were open to buying other categories of products like uncut diamonds, rubies and emeralds, and demand for gold jewellery studded with diamonds, rubies and emeralds is growing by around 30 to 40 per cent. Consumers are also drawn to diamonds as an investment asset. Light weight jewellery are reportedly in high demand of late , preferably in 18k gold. Also, there had been an increasing demand for customisation and unique designs, as consumers seek jewellery that reflects personal style and individuality.