UAE Gold Price: More consumers in the UAE are buying diamond jewelry as a result of the high price of gold.

UAE Gold Price: In 2025, gold prices reached a record high of $4,549 per ounce globally and Dh546 per gram in the UAE. Jewellers in Dubai reported that demand for both natural and lab-grown diamonds is increasing in the UAE, as is trust in the latter.

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“One of the primary factors influencing the market today is the gold price. It’s harming everyone. However, as diamond sales increased, we all performed better. As a result, any business losses caused by gold are offset by diamond sales. We’ve seen a 25-30% increase in diamond sales year over year. Diamond is balancing the effect of gold sales for practically all enterprises, because we are a wholesaler and sell a lot to the industry,” said Chirag Vora, managing director of Bafleh Jewellers.

Vora observes that, in the face of high yellow metal prices, individuals are increasingly preferring to present diamond products as gifts rather than smaller gold jewelry. “Giving someone a diamond-studded gift leaves a much better impression. Within the diamond category, both natural and lab-grown diamonds are increasing at the same rate.”

However, Vora does not believe the lab-grown diamond will outperform its natural counterpart. “Both of them are growing equally and in parallel,” said the official.

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According to Chandu Siroya, proprietor of Siroya Jewellers, 2025 would be a hard year for merchants in terms of sales.

“Once everyone has accepted that premise, all we have to do is solidify our position and start buying again. We can expect high sales in the future, but we must be imaginative and carry lighter-weight jewellery. As a result, the Dubai Jewellery Group has introduced 14-carat jewelry, which is more affordable,” he explained.

Aditya Singh, Titan Company’s Head of International Jewellery Business, stated that customers in India trusted the Tanishq brand for diamonds.

“That is one category we are encouraging, and you’re seeing a lot of other people take it seriously. It is not that attention has switched abruptly, but rather that many significant players have begun to focus on the diamond category. As a result, new styles and items are being released, along with attractive promotions. Diamond is attracting a lot of attention.