Gold is no longer just a wedding gift. A comfort. A shiny thing you bought when life felt big. But now everyone in the Gulf is watching one number like it’s the plot twist in a thriller:
AED 600 per gram.
Will gold get there?
Maybe.
But the real story is what’s happening on the way.
The Climb
Prices were never supposed to behave like this. In Dubai, 24K gold has hovered around AED 492–504, but every analyst, trader and WhatsApp uncle has started whispering the same thing: It’s going higher.
- Global gold prices surged 58% in the past year.
- Central banks bought over 1,000 tonnes annually for the third year straight — more than double the old average.
- Experts at Deutsche Bank are talking about USD 5,000 an ounce in the next 18 months.
All this from a metal you can’t patent, can’t upgrade, can’t version-2.0.
Why?
Because the world is once again messy.
Currencies wobble. Markets mood-swing. Politics flare.
And gold does what it always does — stays stubbornly itself.
In the Gulf, the UAE’s central bank quietly increased its reserves by 26% in the first five months of 2025. You don’t buy that much gold if you think the world is stable. You buy it because you trust metal more than market moods.
The Shift
Here’s what rising prices usually do:
They make people step back.
But this time, they’re pulling people in.
That’s because gold doesn’t belong only to jewellers anymore.
It lives in an app.
It lives in AED 10 purchases.
It lives in small, repeatable habits.
Platforms like Just Gold took something intimidating and stripped out the friction.
- No locker keys.
- No making charges.
- No saving for wedding-season discounts.
Just gold — clean, small, liquid, and surprisingly modern.
It’s changed how the region behaves.
- Migrant workers buy gold like phone data — weekly, automatic.
- Young professionals drip-save into digital vaults.
- Families hedge their remittance value with grams that don’t lose themselves in exchange-rate chaos.
While jewellery demand has fallen to its five-year low, digital and investment gold is rising. People aren’t chasing shine. They’re chasing stability.
The Questions
So what happens if gold actually hits AED 600?
Jewellery gets tougher.
A 10-gram bangle jumps from AED 5,000 to AED 6,000.
That’s not an impulse buy — that’s a conversation.
But savings? They get smarter.
When gold becomes too expensive to wear, it becomes easier to respect.
Meanwhile, global houses like Goldman Sachs are sketching charts with more upward slopes than a roller coaster.
The world is signalling something simple:
We don’t know what’s coming next, but we know what still works.
Gold may not yield interest, but it yields peace. It doesn’t send quarterly reports. It doesn’t file earnings misses. That quiet reliability is becoming a luxury — one you can buy a gram at a time.
The Truth
The mistake is treating this like a price story.
It’s not.
It’s a behaviour story.
The Gulf isn’t chasing gold.
It’s returning to it — but differently.
Not in the heavy-set, wedding-day way.
In the small, consistent, weekday way.
Because in a world full of upgrades, resets, crashes and corrections, gold has one feature no app can replicate: It remembers who it has always been.
The End. Or is the Beginning?
Maybe gold touches AED 600.
Maybe it stops at AED 550.
Maybe it climbs higher.
But the real shift is already here:
Gold has left the showcase and entered the savings plan.
It’s no longer a one-time purchase.
It’s a quiet habit.
And habits build security more reliably than markets ever will.
If the world keeps shaking, people will keep reaching for the one thing that doesn’t panic.
It’s not a prediction.
It’s Just gold.
