Dhanteras gold buying is picking up in Dubai ahead of Friday 6 November, with jewellers telling Khaleej Times that more shoppers are locking in prices early. On Wednesday 4 November, 24K gold was AED487.75 a gram at 13:17 Dubai time, according to Dubai Jewellery Group (DJG), up AED20.75 from AED467.00 at the weekend. Diwali falls on Sunday 8 November.
Key points
- 24K gold: AED487.75 a gram (4 November, 13:17 Dubai time)
- Dhanteras is on Friday 6 November, Diwali on Sunday 8 November
- Diwali Gold Rush runs from 24 October to 12 November
- One raffle entry for every AED1,500 spent, with 1kg of gold in prizes
- 25% to 50% off making charges at participating outlets
Dubai gold rates before Dhanteras
| Karat | AED per gram (4 Nov, 13:17 Dubai time) |
|---|---|
| 24K | 487.75 |
| 22K | 451.50 |
| 21K | 433.00 |
| 18K | 371.25 |
| 14K | 289.50 |
These are DJG’s suggested retail rates for gold jewellery. They do not include making charges or 5% VAT, and they can change during the day.
The rise came as the US dollar and Treasury yields fell after early US midterm results favoured the Democrats, Gulf News reported. Prices have swung sharply in recent weeks: in late October UAE gold prices fell by up to AED20.50 a gram, before prices steadied after a 10-day drop.
How the Diwali Gold Rush draw works
The Diwali Gold Rush runs from 24 October to 12 November. According to the official campaign page, it is organised by Dubai Festivals and Retail Establishment (DFRE), an affiliate of Dubai’s Department of Economy and Tourism, in collaboration with DJG, and covers 178 outlets from 66 brands across Dubai.
Shoppers get one raffle entry for every AED1,500 spent on jewellery at a participating outlet, by scanning the campaign QR code. The prizes add up to 1kg of 22K gold across two draws, and buying before Dhanteras puts you in both.
| Draw | Prize | Purchases that count | Draw date |
|---|---|---|---|
| Dhanteras Draw | Five winners, 100g each | 24 October to 6 November | 7 November |
| Grand Draw | One winner, 500g | 24 October to 12 November | 16 November |
Participating outlets are also offering 25% to 50% off making charges on selected gold jewellery, up to 50% off selected diamond and polki pieces, a free gift with purchases and zero deduction on old gold exchange. Terms and conditions apply.
Why shoppers are buying Dhanteras gold early
Chirag Vora, managing director and CEO of Bafleh Jewellers, told Khaleej Times that price locking gives customers “greater confidence” to plan purchases without worrying about sudden increases. Anil Dhanak, managing director of Kanz Jewels, said price protection is proving popular with buyers who have already decided to buy, especially Indian expatriates, for whom Dhanteras is an auspicious time to buy gold.
“Diwali is one of the most important gold-buying occasions of the year, and Dubai has always been where families come to make that purchase with confidence. With gold prices here up to 13% lower than in India, Dubai is a highly price-competitive jewellery destination.”
Tawhid Abdullah, Chairman of Dubai Jewellery Group
DJG also points to India’s revised 2026 rules, which it says let eligible travellers carry up to 40g of gold jewellery for women and 20g for men duty-free. If you are still deciding, our guide on when to buy gold in the UAE explains what to watch.
Sources: Dubai Jewellery Group rates, Diwali Gold Rush campaign page, DJG press release (GoDubai), Khaleej Times, Gulf News
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