Dubai’s gold prices remain locked at glittering highs — with 22K gold hovering at Dh373 per gram and 24K at over Dh440 — yet that hasn’t stopped UAE residents from flocking to jewellery stores. Instead of impulse splurges, they're opting for a more calculated route: monthly gold instalment plans.
Faced with historic highs — with global prices edging towards $3,500 an ounce — shoppers are donning their investor hats. Leading jewellers across the Emirates have reported a spike in interest for their pay-as-you-go gold schemes. These flexible plans, often starting below Dh1,000 a month, allow buyers to accumulate credit over time, which can later be redeemed in coins, bars, or handcrafted pieces — and often with incentives thrown in.
"The monthly instalment schemes have seen a surge in popularity," said one major retailer. "We’re even seeing tourists and non-residents enrolling — it’s about smarter, long-term accumulation rather than spontaneous purchases."
Dubai resident Mandar Khatoo, who’s now in his second year of the plan, noted, “There’s no pressure to buy at the end of 12 months. I can extend it, and I even got a one-month bonus added on. It’s a win-win while we wait for prices to cool.”
What’s driving this disciplined approach? According to the World Gold Council, 2024 saw a drop in traditional jewellery sales but a notable uptick in gold bar and coin investments. The trend reflects a wider transformation: UAE consumers are no longer just buyers — they’re strategic investors.
“Search trends show that ‘Buy Gold’ queries from UAE users have hit a five-year high,” said James Campion from eToro. “This signals rising consumer confidence in gold, even at elevated prices, as a resilient store of value.”
Since gold broke the Dh300-per-gram barrier in October 2024, it has climbed over 30%, outshining many traditional investments. Now, rather than gamble on market dips, UAE residents are laying the groundwork for future buys — one monthly payment at a time.
With gold’s ascent showing few signs of slowing, it seems the UAE’s glittering obsession is evolving — from passion to portfolio.
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