Dubai jewellers are adapting to high gold prices by introducing lighter designs and innovative manufacturing techniques ahead of the Dhanteras and Diwali festivals. Advances in 3D printing and electroforming allow for stronger, lighter pieces, with some jewellery now weighing just 40-50 grams compared to heavier designs in the past. Chandra Prakash Siroya of Siroya Jewellers noted that customers are increasingly opting for affordable, lightweight options, including diamond-studded designs and colourful pieces like Meenakari and Kundan jewellery.
Dinesh Kambrath of Vinsmera Jewels highlighted how jewellery weights have decreased significantly over the past five years, with an 80-gram piece now replacing a 120-gram one. Jewellers are also experimenting with new collections, such as Vinsmera's Varnika line, featuring rubies and other precious stones. AU Finja's Soni Pahuja introduced the Athena Pro collection in 18-karat gold, with pieces weighing between 11 and 15 grams, and the Ausum collection in titanium.
Despite the challenges posed by high gold prices, jewellers in Dubai anticipate strong festive demand, supported by promotional offers and price protection schemes. Vinsmera Jewels is offering discounts of up to 40% on making charges and free gold coins, while Siroya Jewellers allows customers to choose between booking and delivery prices. The long weekend and tax benefits, including a 5% refund for tourists, are expected to boost sales.
Commodity experts remain divided on the outlook for gold prices. Dharmesh Bhatia expects a correction, with domestic gold prices potentially falling to ₹1.38 lakh per 10 grams, while Mohamad Ali of MAH Gold forecasts international prices to trade between $4,200 and $4,600 by the end of 2026. Ali emphasized gold's appeal as a safe-haven asset, supported by geopolitical uncertainty and central bank purchases. The India-UAE trade agreement is also seen as a catalyst for further opportunities in precious metals.