Dubai jewellers are adapting to high gold prices by introducing lighter designs and innovative manufacturing techniques ahead of Dhanteras and Diwali. Chandra Prakash Siroya of Siroya Jewellers noted that advances in technology, such as 3D printing and electroforming, allow for lighter pieces without sacrificing quality. For example, some jewellery pieces that previously weighed significantly more can now be made in just 40-50 grams.
Dinesh Kambrath of Vinsmera Jewels highlighted the impact of rising gold prices on jewellery weights, stating that a piece now weighing 80 grams would have weighed around 120 grams five years ago. Jewellers are also experimenting with designs, colours, and materials, with good demand for Meenakari, coloured stones, Kundan, and Polki jewellery. Vinsmera Jewels introduced its Varnika collection, featuring colourful designs with precious stones like rubies.
Soni Pahuja of AU Finja mentioned the company's Athena Pro collection in 18-karat gold, with pieces weighing between 11 and 15 grams, and also available in 22-karat gold. The company has also experimented with titanium through its Ausum collection. Pahuja emphasized that customers prioritize quality and design over weight, though lighter options cater to more budget-conscious buyers.
Jewellers in Dubai anticipate strong festive demand, with promotional offers and discounts likely to attract shoppers. Vinsmera Jewels is offering discounts of up to 40% on making charges and a free gold coin. Siroya noted that customers had booked jewellery when gold prices fell to around $3,800, with several jewellers offering price protection to choose between the booking date price and the delivery date price.
Commodity experts have differing views on the outlook for gold prices. Dharmesh Bhatia expects further correction in gold and silver prices, citing elevated interest rates and borrowing costs. He anticipates domestic gold prices to move towards ₹1.38 lakh per 10 grams, while silver could decline to ₹1.5 lakh-₹1.6 lakh. Bhatia described the recent recovery in gold prices as temporary and expects consolidation in the near term.
Mohamad Ali of MAH Gold, however, expects international gold prices to trade in a range of $4,200-$4,600 before the end of 2026. He believes gold will continue to attract investors as a safe-haven asset, supported by geopolitical uncertainty and central bank purchases. Ali also highlighted the India-UAE Comprehensive Economic Partnership Agreement (CEPA), which has improved trade between the two countries and opened up opportunities in precious metals.