The UAE’s consumers are spending less on gold jewelry and more on gold bars and coins due to economic instability and rising global gold prices. The World Gold Council’s most recent statistics shows that the demand for gold jewelry in the United Arab Emirates fell by 16 percent year over year, from 9.2 tonnes in Q2 2025 to 7.7 tonnes in Q2 2025. The consumption of jewelry has declined for the second consecutive quarter.
The demand for gold bars and coins, on the other hand, increased dramatically, increasing by 25% year over year to 4.1 tonnes in Q2 2025 from 3.3 tonnes in Q24. A rising desire for tangible gold assets was reflected in the 31% quarterly increase in demand.
In the second quarter, the UAE’s total gold consumption dropped 5% year over year to 11.8 tons, despite the increase in investment demand. As compared to the prior quarter, it nevertheless showed a 7.2% gain.
The price of gold has increased by almost Dh100 per gram in the United Arab Emirates over the last year, mostly as a result of rising worldwide prices, as Khaleej Times previously reported. Continued central bank purchases, trade barriers, and geopolitical concerns have all contributed to this spike.
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