Dubai’s gold market may face record highs by 2026, with new projections from Deutsche Bank suggesting international prices could approach $5,000 per ounce. Such a rise would push UAE retail rates close to Dh589 per gram, while even the bank’s moderate outlook places prices near Dh525, signalling sustained cost pressure for buyers.
Analysts attribute the surge to strong global demand, currency shifts and gold’s continued outperformance of the US dollar. Retailers in Dubai’s major jewellery hubs say customers are already adjusting purchasing plans amid expectations of further increases. Economists warn that higher prices may influence investment decisions and festive-season spending, prompting many residents to reconsider the timing of major gold purchases in the months ahead.
