Dubai jewellers expect gold jewellery demand to rise as Navratri, Diwali, Christmas and New Year celebrations approach, with winter tourism also set to boost footfall.
UAE jewellery retailers are optimistic that gold jewellery demand will pick up during the second half of 2026, with the festive and wedding season, year-end tourism and the possibility of more stable gold prices expected to strengthen buyer confidence.
Industry leaders said celebrations including Navratri, Diwali, Christmas and New Year, along with an expected influx of tourists during the cooler winter months, are likely to support gifting, festive purchases and wedding-related jewellery demand across the UAE.
Shamlal Ahamed, managing director for international operations at Malabar Gold and Diamonds, said several factors are expected to support jewellery demand during the second half of the year.
“The festive and wedding season traditionally drives jewellery purchases, with major celebrations such as Navratri, Diwali, Christmas and New Year falling during this period,” he said.
Ahamed added that the cooler months and year-end holiday season are expected to attract more tourists to the UAE, potentially boosting demand through gifting, festive shopping and wedding-related purchases.
Dubai’s gold jewellery market continues to attract international shoppers, supported by competitive pricing, tax-free shopping and established craftsmanship.
Gold prices closed at $4,342 per ounce, up 2.38 per cent. In Dubai, 24K and 22K gold closed at Dh523.25 and Dh484.50 per gram, respectively.
Renewed interest
John Paul Alukkas, CEO of Joyalukkas Jewellery, said the second half of the year is traditionally a strong period for the industry, with weddings, festivals and year-end celebrations supporting jewellery demand.
“We’re already seeing early signs of renewed interest as customers begin planning for upcoming celebrations,” he said.
He added that value-added offers, transparent pricing and flexible exchange policies would also play an important role in encouraging customers to return to showrooms.
Alukkas said the company is focused on making jewellery more accessible through targeted promotions, flexible payment options and collections that combine traditional designs with contemporary styles.
“We are now seeing buyer confidence return, so we remain optimistic for the months ahead,” he said.
Price stability
Anil Dhanak, managing director of Kanz Jewels, said jewellery demand in the second half of 2026 is expected to benefit from the festive and wedding seasons, along with year-end tourism and holiday shopping.
“If gold prices stabilise, consumer confidence is likely to improve, encouraging more buyers to return to the jewellery market,” he said.
“Gold remains an emotionally significant purchase in this region, and while short-term buying patterns may fluctuate with prices, long-term demand fundamentals remain strong,” he added.
Chirag Vora, managing director of Bafleh Jewellers, shared a similar outlook, saying the second half of 2026 is expected to be significantly stronger for jewellery retailers.
“The festive calendar, wedding season and increased tourist arrivals traditionally support higher footfall across the UAE. If gold prices stabilise or see moderate corrections, consumer confidence will improve further,” he said.
Vora added that retailers offering innovative collections, attractive exchange deals and value-added promotions would be well positioned to benefit from the expected recovery in demand.
