UAE jewellery retailers are optimistic about a pickup in gold jewellery demand during the second half of 2026, citing the festive and wedding season, year-end tourism, and the prospect of stabilising gold prices as key factors that could bring buyer confidence back to showrooms.
Industry leaders said celebrations such as Navratri, Diwali, Christmas and New Year, combined with an influx of tourists during the cooler winter months, are expected to drive gifting, festive shopping and wedding-related purchases across the country.
Shamlal Ahamed, managing director for international operations, Malabar Gold and Diamonds, said several factors are expected to support jewellery demand in the second half of the year.
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“The festive and wedding season traditionally drives jewellery purchases, with major celebrations such as Navratri, Diwali, Christmas and New Year falling during this period,” he said, adding that the cooler months and year-end holiday season are also expected to attract more tourists to the UAE, further boosting demand through increased gifting, festive shopping and wedding-related purchases.
Dubai’s gold jewellery market remains a global favourite, blending competitive pricing, tax-free shopping and craftsmanship.
Gold prices closed at $4,342 per ounce, up 2.38 per cent. In Dubai, the 24K and 22K gold prices closed at Dh523.25 and Dh484.5 per gram, respectively.
Renewed interest
John Paul Alukkas, CEO, Joyalukkas Jewellery, said the second half of the year is traditionally strong for the industry, with weddings, festivals and year-end celebrations driving natural demand for jewellery.
“We’re already seeing early signs of renewed interest as customers begin planning for upcoming celebrations. Value-added offers, transparent pricing and flexible exchange policies will also be key in bringing customers back to showrooms,” he said.
Alukkas said the company is focused on making jewellery more accessible through thoughtful promotions, flexible payment plans and collections that balance tradition with contemporary design. “We are now seeing buyer confidence return, so we remain optimistic for the months ahead,” he said.
Price stability
Anil Dhanak, managing director, Kanz Jewels, said jewellery demand in the second half of 2026 is expected to be supported by the festive and wedding seasons, as well as year-end tourism and holiday shopping.
“If gold prices stabilise, consumer confidence is likely to improve, encouraging more buyers to return to the jewellery market,” he said. “Gold remains an emotionally significant purchase in this region, and while short-term buying patterns may fluctuate with prices, long-term demand fundamentals remain strong,” he added.
Chirag Vora, managing director, Bafleh Jewellers, echoed similar views, saying the second half of 2026 is expected to be much stronger for jewellery retailers.
“The festive calendar, wedding season, and increased tourist arrivals traditionally support higher footfall across the UAE. If gold prices stabilise or witness moderate corrections, consumer confidence will improve further,” he said, adding that retailers introducing innovative collections, attractive exchange offers, and value-added promotions will be well positioned to benefit from the expected pickup in demand.
Source: Khaleej Times