Officials at gold and jewelry trading outlets reported that gold bars were the most in-demand product in 2025, a year that saw significant changes and record highs in the price of the yellow metal. This surge in prices drove many buyers to opt for gold bars over traditional jewelry pieces. They told 'Emirates Today' that gold prices are expected to continue rising in 2026, with forecasts predicting the global value of an ounce will exceed $5,000 in the coming periods, based on global market indicators and growing demand for the yellow metal. The demand for bars versus jewelry is expected to vary depending on the nature of the purchase, whether for savings, investment, or personal use. 'Emirates Today' monitored local gold prices during the last week of December 2024, comparing them to the same period in December 2025, and found a significant increase in the price of gold, amounting to 228.25 dirhams per gram. On December 27, 2024, the price of a 24-karat gram was around 318 dirhams, compared to 546.25 dirhams during the same date in 2025. Dubai's gold markets saw the inclusion of 14-karat gold in their price lists, offering traders and importers wider and more accessible options to meet various market needs, both in local trade and for export. In detail, the manager of 'Dahkan Gold and Jewellery Trading' company, Jay Dahkan, stated that 2025 witnessed record highs in gold prices, which reflected in consumption patterns. Demand for purchasing gold bars for savings and investment increased significantly, while the share of jewelry sales was lower. He added that Dubai's markets saw a strong surge in demand for gold despite the rising prices, supported by growing tourism activity and increased consumer spending. He expects global gold prices to surpass $5,000 per ounce in 2026. Meanwhile, the manager of 'Motiwala Gold and Jewellery Trading' shop, Ali Motiwala, confirmed that 2025 was the year with the highest demand for gold bars compared to the previous five years, benefiting from investors' growing confidence in buying bars for savings or investment. He said gold prices are poised for further increases in 2026, reaching around $5,150 per ounce, according to global market indicators, which will in turn boost local demand for bars. The manager of 'Life Gold and Jewellery Trading' company, Dilip Dahkan, also confirmed that gold prices recorded unprecedented increases in 2025, leading to higher demand for bars compared to jewelry. Dahkan expects this trend to continue in 2026, with also improving demand for jewelry, noting that global indicators point to further rises for the price of the yellow metal. He also forecasts the price will reach $5,000 per ounce, with increasing global purchasing interest. Increase in sales. The Chairman of the Board of Directors of the Gold and Jewellery Group in Dubai, Tuhaid Abdullah, considered gold bars the biggest winner in 2025, with their sales increasing by up to 50% compared to 2024. He explained that the continued demand for bars will vary throughout 2026, supported by growing buyers' awareness of the importance of owning gold as a safe investment, in addition to expectations of continued price increases. He added that strong tourist activity in Dubai contributed to sustained demand for various gold products despite record-high price increases. The inclusion of 14-karat gold also helped meet the needs of gold importers in Dubai. Forecasts suggest the global value of a gold ounce will exceed $5,000 in 2026.
