UAE Gold Demand Holds Firm As Prices Hit New Highs

ETVBHARAT 2026-01-29

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Sharjah: Gold prices have reached record highs as investors look for safe options amid global economic uncertainty, and demand remains strong in the United Arab Emirates. However, buying trends are changing, with more customers choosing gold bars over jewellery. Industry experts say gold usually rises during times of crisis, as people see it as a safe haven. Abdulwahed Al Marzoqee, CEO of Al Mandoos Jewellery Group, said uncertainty and global tensions are pushing prices higher. He added that gold is now seen as a strategic asset, not just an investment. Al Marzoqee expects prices to rise further, possibly reaching 6,000 dollars an ounce by mid-2026. he noted that demand for decorative jewellery has fallen, while interest in gold bars as savings has increased. Some shop owners believe prices may correct in the future. Despite this, demand remains steady, with buyers looking for meaningful and unique gold pieces.

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