Despite changes in gold prices, people in the UAE still love buying gold jewellery, especially during festivals and holidays. Even when gold prices are high, Dubai’s shops see more sales of gold jewellery than gold coins or bars. People love gold jewellery because it’s not just beautiful, it’s also a good investment. Recently, the Dubai Jewellery Group said that different types of gold were trading at different prices per gram, ranging from Dh192.5 to Dh250.5.
Why People Love Gold Jewellery
During festive times and weddings, UAE residents often buy gold jewellery as gifts. Many people see gold jewellery as something special, both to wear and to save for the future. Even when gold prices go up, not many people sell their gold jewellery. Experts like Shamlal Ahamed from Malabar Gold and Diamonds and John Paul Alukkas from Joyalukkas Group say most people prefer to keep their jewellery because it is precious to them, both emotionally and as an investment.
Gold Jewellery vs. Gold Coins and Bars
While some people might be interested in buying gold coins or bars when prices go up, most customers still prefer gold jewellery. Gold coins and bars are seen as safe investments, but jewellery has an extra appeal because it’s something you can wear and enjoy every day. Shamlal Ahamed says that jewellery’s dual value as something beautiful and something that increases in value over time makes it popular with a wide range of customers.
Changing Trends in Jewellery Preferences
Younger consumers, like millennials (those born between the early 1980s and the mid-1990s) and Gen Z (born roughly between the mid-1990s to the early 2010s), are showing more interest in diamond and lifestyle jewellery. They like jewellery that’s stylish and easy to wear for everyday activities or work. Natural diamond jewellery is becoming more popular because it’s seen as aspirational. John Paul Alukkas says that today’s consumers want jewellery that’s unique and reflects their personality and style. This focus on individuality is driving the demand for custom-designed jewellery.
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Our ERP software specifically engineered for jewellery businesses, SUNFACET, helps jewellers work more efficiently and meet customer demands. We offer ERP solutions, SUN FACET 2.0, for gems and jewellery, bullion, metal refinery, jewellery manufacturing, and watches. Our software is approved by the UAE Federal Tax Authority (FTA) for VAT compliance and works well with systems like Rapaport, WhatsApp, Signum CRM, and RFID. We are committed to helping jewellery businesses grow by providing the right tools and support. Contact us to find out how our solutions can benefit your business.
