United Arab Emirates gold demand rises 25% in Q2

Gold demand in the United Arab Emirates saw a significant increase in the second quarter of 2026, rising 25.3% quarter-on-quarter to reach 10.9 tonnes. This growth was primarily driven by a 32.5% surge in the purchase of gold bars and coins, as consumers increasingly utilized precious metals for savings and investment.

While jewelry purchases also grew by 19.1% during the second quarter to 5.6 tonnes, total demand for the first half of 2026 declined by 14% compared to the same period in 2025. This year-on-year decrease was largely attributed to a significant drop in jewelry demand, which fell 34% compared to the first six months of the previous year.

On August 17, local gold prices in the UAE showed an upward trend, with the price per gram rising to 519.03 AED from 516.83 AED recorded the previous Friday.