Today's Edition
AMEINAH ALZEYOUDI (ABU DHABI)
With festivities just around the corner, gold shops in Abu Dhabi are witnessing increased footfall, especially as prices begin to ease after hitting record highs in recent months.
Gold prices have softened in line with global trends, offering some relief to buyers. Retailers say the recent dip has revived interest in jewellery purchases ahead of the wedding season and Eid Al Adha celebrations.
Saleh Al Yafai, who works at Al Ostoura Gold and Jewellery, said the market had been busier as preparations for festivities gathered pace.
“Gold is currently in high demand, and reduced prices encourage buyers to buy more,” Al Yafai told Aletihad.
He added that many customers who had postponed purchases earlier in the year are now returning.
Mohammed Al Musallamani of Madinat Al Thahab Jewellery also observed a rise in demand for bridal jewellery.
“Many ladies purchase gold for the festivities — and it’s also the wedding season. The current price of gold presents a genuine opportunity,” he said.
Young couples preparing to marry say the price drop has come as welcome relief, helping them make meaningful savings.
Zayed Al Briki, a UAE national who is set to tie the knot soon, said the decline in prices has eased financial pressure as wedding plans take shape.
Earlier this year, he said, they had already considered reducing the amount of gold they would buy due to high costs.
“With prices now dropping, we thought it’s the right time to buy the jewellery we planned for the wedding,” he said, adding that the sentiment is shared across his family circle.
“We were able to buy more pieces for the wedding without going over budget because of the recent decline,” Al Briki added.
Balqes Al Farsi, a soon-to-be bride, said she and her family had been closely tracking prices after months of hesitation.
“We had put off purchasing gold for months because prices were too high,” she said. However, when they went window shopping this week, they found the deals they had been waiting for.
“It seems like the ideal chance for couples who are preparing to get married,” she said, adding that other brides are also rushing to make purchases before demand peaks during the busy wedding season.
“Many brides wanted to buy jewellery now because nobody knows how long these prices will last,” she said. “I didn’t want to pass up this chance before the wedding season gets busier.”
More than an accessory, Al Musallamani said gold continues to hold long-term investment value.
“We always encourage and advise people to buy gold because, in the long run, it is both an adornment and a sound investment for the future,” he said.
