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Home Markets Crypto Market

rewrite this title UAE gold prices reach all-time highs

Maya Paz by Maya Paz
May 29, 2025
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Gold prices in the UAE surged to unprecedented highs last month, with 24-karat gold breaking through the 410 AED per gram barrier. This record local price reflects a global rally, with spot gold briefly exceeding US$3,480 per ounce.

What is driving gold’s record highs?

The surge has been driven by escalating geopolitical tensions and strong investor demand, significantly impacting UAE consumers and investment strategies. As gold prices hit record levels, the Dubai Gold Souks experienced mixed reactions: retail jewellery sales slowed due to the high prices, while bullion dealers saw increased interest from investors purchasing gold bars and coins.

The Dubai gold rate has seen an extraordinary rise since surpassing the 300 AED milestone in October 2024. In less than six months, prices have climbed by over 33%, outperforming most other investment assets during the same period.

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Gold emerges as a safe-haven choice for UAE investors

What we’re witnessing is unprecedented in the gold market. The combination of economic uncertainty, inflation concerns, and shifting trade dynamics has created perfect conditions for gold’s remarkable performance. UAE residents are increasingly viewing gold as a reliable store of value in times of uncertainty.

An eToro survey showed that around 76.5% of UAE retail investors are currently investing in commodities such as gold. Currency fluctuations (63.3%) and geopolitical events (44.1%) are among the key macroeconomic factors influencing their investment decisions — factors that are directly responsible for the current gold market fluctuations.

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As global economic challenges persist, gold’s appeal as both a luxury item and an investment vehicle continues to grow in the UAE, reinforcing the country’s position as one of the world’s leading gold trading hubs.

 

This communication is for information and education purposes only and should not be taken as investment advice, a personal recommendation, or an offer of, or solicitation to buy or sell, any financial instruments. This material has been prepared without taking into account any particular recipient’s investment objectives or financial situation, and has not been prepared in accordance with the legal and regulatory requirements to promote independent research. Any references to past or future performance of a financial instrument, index or a packaged investment product are not, and should not be taken as, a reliable indicator of future results. eToro makes no representation and assumes no liability as to the accuracy or completeness of the content of this publication.

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