UAE: Dubai's gold jewellers hope Eid Al Fitr, Indian festivals will increase sales
Jewellers told Khaleej Times that bookings for Akshaya Tritya have already started and many have introduced promotions and discounts to cash in on the buying spree during this period.
The precious metal was trading at $3,046.49 per ounce, up 0.95 per cent on Thursday afternoon. In Dubai, 24K, 22K, 21K and 18K variants of the metal were trading at Dh365.75, Dh338.75, Dh324.75 and Dh278.25 per gram, respectively.
Ramesh Kalyanaraman, executive director of Kalyan Jewellers, said customers continue to see gold as a valuable investment despite record-high prices.
'With the Akshaya Tritiya approaching, we understand the significance of this occasion and have introduced a 10 per cent advance booking offer to help customers secure their gold at current rates, protecting them from future price hikes. To add further value, we are also offering gold coin giveaways of up to 2gm on their purchases, making this an even more rewarding time to shop,' said Kalyanaraman.
Rohan Siroya, CEO of Siroya Jewellers Retail Division, said Ramadan and Eid are big drivers of gifting occasions for religious calendars.
'If you look at the Hindu calendar, we have Gudi Padwa and Ugadi, which come around the same time as Eid. Then we have Akshaya Tritiya buying which happens for a month. So now it's a bonanza. Bookings for Akshaya Tritiya have already started,' said Siroya.
Akshaya Tritiya will be marked on April 30 and Ugadi and Gudhi Padwa on March 30. Similarly, Eid is most likely to begin on March 31 in UAE.
'We offer gold rate locks one month in advance which is a big advantage to the consumer. Even during Ramadan, a lot of gifting happens, and this is the trend now. With gold pricing staying high, we've seen consumers wanting to buy smaller items and diamonds because prices have dropped. When you have a chance to buy diamonds, then why not,' Siroya told Khaleej Times.
Jay Patni, CEO of Jewel Dubai, sees up to a 5 per cent increase in sales, driven by festivals like Akshaya Tritiya and because consumers still have strong confidence in the precious metal despite prices hitting an all-time high recently.
'Sometimes, people shift a certain amount or percentage of their investment to gold just to safeguard themselves for a certain period of volatility. Rather than keeping their money idle in the bank or spending on luxury items, they feel that this is a safe haven and it may appreciate in the future,' said Patni.
He added that sales pick up towards the end of Ramadan when more people buy precious metal jewellery for Eid.
Jewel Dubai has also introduced lock-in promotion for shoppers ahead of the festivals.
Chirag Vora, managing director of Bafleh Jewellers, sees a slight drop in sales as prices hit a record high.
'It takes time for people to get used to the new pricing. One month is not good enough; they usually take 2-3 months to digest it,' he said, adding that Bafleh also introduces promotions during the Akshaya Tritiya festival for shoppers and tourists.
He noted that Akshaya Tritiya 'is always a busy period' for gold jewellers in Dubai. 'Ramadan becomes slightly slow, but it picks up during Eid,' added Vora.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Emirates Woman
2 hours ago
- Emirates Woman
New UAE public holidays law: Your guide to smarter planning for the long weekends in 2025
A significant shift in how we plan our calendars has arrived. At the start of this year, the UAE's new public holiday legislation – Cabinet Resolution No. (27) of 2024 – came into effect, introducing key rules that every resident needs to understand to maximise their time off. The new law empowers the government to strategically move holidays, paving the way for more extended breaks and smarter long-weekend planning. Here's what you need to know. Are UAE Public Holidays Transferable? The new law brings clarity and flexibility. Crucially, with the exception of the Eid holidays, the UAE Cabinet now holds the authority to transfer any public holiday to the beginning or end of the week to create a longer continuous break. However, there's a key stipulation: a public holiday cannot be transferred if it already coincides with another holiday or falls on a weekend. This strategic approach is designed to minimise mid-week days off and consolidate time off for a better work-life balance. A prime example is the upcoming UAE National Day. Falling on a Tuesday and Wednesday this year, the Cabinet could potentially issue a resolution to move the holiday to the preceding Monday (December 1st), creating a spectacular five-day break from Friday, November 28th to Wednesday, December 3rd. Official confirmation, however, will come closer to the date. UAE Public Holidays 2025: How to plan your long weekends and extended breaks? The long weekends still to come in 2025 With the first half of the year behind us, UAE residents have two more public holidays to look forward to, both offering strong potential for extended time off. Prophet Muhammad's Birthday (PBUH) Predicted Date: Friday, September 5, 2025 What to expect: This holiday is currently predicted to fall directly on a Friday. If confirmed, this would automatically grant residents a three-day weekend (Friday to Sunday). As it's not an Eid holiday, the date is subject to official moon sighting confirmation. UAE National Day Confirmed Dates: Tuesday, December 2 & Wednesday, December 3, 2025 What to expect: This mid-week break is the one to watch. Under the new law, the government could choose to move these days off to the preceding Monday (Dec 1st) to create a five-day long weekend. Alternatively, it will remain a two-day break splitting the workweek. The decision will be announced officially later in the year. Armed with this knowledge, residents can now look ahead with optimism, ready to leverage the new law's flexibility for a well-deserved break. Keep your calendars open and watch for official announcements. – For more on luxury lifestyle, news, fashion and beauty follow Emirates Woman on Facebook and Instagram Images: Supplied & Feature Image: Pinterest
Khaleej Times
12 hours ago
- Khaleej Times
Hatta Waterfalls: Visitors witness attraction take shape amid Hajar mountains
Despite the blearing sun and still-closed shops, curious passersby strolled the parameters of the Hatta Sustainable Waterfalls, which was not too long ago a parking lot. Although the crowds were nowhere near as large as in the winter season, a few visitors still lurked about, watched over by the grand peaks of the Hajar mountains. Khaleej Times visited the area which will open up 14 new new investment and commercial opportunities for Emiratis in Hatta, as announced on Sunday. The aim is clear: empower Emiratis residing in Hatta by giving them priority access to new retail spaces, job opportunities, and a chance to grow small businesses in one of the UAE's most scenic destinations. Encompassed by mountains Overview of the Hatta Sustainable Waterfalls, surrounded by the majestic Hajar mountains, one of the largest in the region and shared by the UAE and Oman. Standing atop one of the vantage points, one can see the vibrant area on one side, and the spectacular views of jagged peaks surrounding the brilliant turquoise waters of the Hatta dam on the other. Stay up to date with the latest news. Follow KT on WhatsApp Channels. A grand mural portraying Sheikh Zayed bin Sultan Al Nahyan and Sheikh Rashid bin Saeed Al Maktoum overlook the property, with a steady stream of water pouring down. The water flows along the length of the property and comes from the Hatta Hydroelectric Plant. It is the largest mural of its kind in the world, and together with the waterfalls, it ties the project back to both legacy and sustainability. Hatta's new hotspot Buildings line the periphery of the area, which will soon be restaurants and retail shops. The area is currently open to the public, but the shops, according to the signs on the front, will be opening soon. These spaces are part of the 14 new investment opportunities reserved for Hatta residents, giving them priority to run cafés, restaurants, kiosks, and small businesses that reflect the local culture and support tourism. Crossing bridges Two bridges link one side of the area to the other, with the water gushing beneath them from the waterfalls. They connect not only the two banks but also the new development with the surrounding natural environment. A vision flowing forward The Hatta Sustainable Waterfalls project is set against the backdrop of the Hajar mountains. The initiative supports Dubai's broader economic and social agendas, including the Dubai Social Agenda 33 and the Dubai Economic Agenda D33, both of which aim to position Dubai among the world's top three cities for tourism while ensuring that development benefits local communities directly.
Khaleej Times
a day ago
- Khaleej Times
School uniforms aren't cheap: Cost rundown and how UAE parents are saving money
[Editor's Note: This article is part of Khaleej Times' Schools and Parents, a dedicated section designed to support families in the UAE as they explore educational choices. The section offers explainers, guidance from education leaders, expert advice and insights from parents to help readers make informed decisions about schools, curricula and communities.] For some parents in the UAE, shopping for school uniforms costs just a few hundred dirhams each year. For others, it can be a Dh2,000 dent in the household budget per child. With rising prices and additional items like jackets, shoes, and bags pushing totals even higher, families are carefully weighing what's truly essential. Schools across the UAE are set to reopen on Monday, August 25, following nearly two months of summer break. As Khaleej Times reached out to a cross-section of parents, we found that a mandatory uniform set for grades K–11 at some schools can cost around Dh600, covering shirts, pants or skirts, PE attire, and a jacket. However, at other schools, when blazers, shoes, accessories, and seasonal items are added, the total can quickly rise, with some spending nearly Dh5,000 annually. Stay up to date with the latest news. Follow KT on WhatsApp Channels. Meanwhile, international comparisons show UAE parents may shoulder higher costs than many abroad, placing the country among the more expensive educational uniform markets. As revealed by the National Retail Federation, in the US, K-12 shoppers are budgeting $253 (about Dh923) per child for clothing and accessories, while in the UK, as per a research published by the Children's Society, parents spend around £287 (Dh1,355) for primary students and £422 (Dh1,992) for secondary. Parents counting every dirham Syrian expat Aiham Joratli, whose daughter is entering Year 1, said he spends about Dh1,500 in Al Ain for back-to-school expenses. 'A complete set of two uniforms costs Dh600. A branded school bag is Dh350, shoes Dh200, and lunch box and bottles Dh300–400,' he said. 'Prices in Al Ain are more reasonable than Dubai or Abu Dhabi, but it really depends on what you choose to buy.' For Dubai parent Ami Rasheed, whose children attend a GEMS school, uniforms alone came to Dh1,000. 'That's two sets of shorts and pants, two regular uniforms, one sports uniform, and one winter jacket per child,' she said. 'Shoes are separate — around Dh50 each for regular ones — because kids outgrow them quickly. I buy moderately priced sports shoes for the same reason.' She added, 'I prefer getting everything from 'Threads', the official supplier, rather than hunting for cheaper outlets in Sharjah. Convenience matters too.' American expat Natalia Miranda said, 'I have a nine-year-old son and this year I'm budgeting Dh2,000 for his back-to-school uniform, PE kit, trainers, boxing gear, lunch bag and a few extras. But I wish the uniforms were better quality and made from more natural fabrics.' Tailoring and second-hand options Many parents rely on community WhatsApp groups, Facebook pages, or school sales to source pre-loved school items. However, some note that it's not always possible to find everything second-hand, making tailoring a practical alternative. Neimat Ilyas, whose son goes to a GEMS school, said, 'I've been getting the school uniforms tailored for about three years now. Word spread through the WhatsApp school groups that some tailoring shops were making replicas of the school uniforms. These shops even source the fabric and stitch the uniforms, and they embroider the logo by pulling an image from the internet. The only noticeable difference is that the official store uses a digitally printed logo, whereas the tailors stitch theirs. So far, the school hasn't raised any issues with it.' She emphasised when it comes to affordability, the difference is significant. 'In the first year, we saved around Dh100 per set. We ordered nearly four sets of uniforms — what would cost around Dh95 for a shirt and Dh105 for a pant at the official store only cost Dh50 at the tailoring shop. The biggest problem with the official uniform centre is their sizing — and it's something everyone complains about. You either end up paying extra for alterations or opt for customisation. But even then, the designated vendors charge an additional Dh50 for customisation on top of the already high price of the uniforms.' Smart ways parents are cutting costs To help manage expenses, some parents say buying one set now and another mid-year can spread out spending, while uniform swap programmes — where gently used items are exchanged or donated — are helping to reduce costs and waste. Some also recommend buying accessories and non-logo basics from hypermarkets, as long as they match school colour and style guidelines. French expat, Marie Dubois, said, 'I usually buy one set at the start of the year and another midway through to spread the cost as I have three children. Uniform swap programmes organised by schools also help, and for basics without logos, I pick them up from UAE shops while they are on sale or from my home country while travelling, as long as they match the school's colours and style.' Rules on school-specific uniforms Meanwhile, education authorities have urged schools to clearly state in their fact sheets whether uniforms must be purchased from official suppliers. Many Dubai schools now allow parents to buy from external vendors, provided the items match the required design. Uniform costs must also be transparently disclosed to parents before the start of the school year. For example, North London Collegiate School (NLCS), one of Dubai's most expensive premium schools, lists uniform prices in its fact sheet ranging from Dh300 to Dh5,000, available for purchase directly from the school or via approved external suppliers. Schools defend the value of uniforms While parents continue to grapple with rising uniform prices, school leaders in the country argue that uniforms bring benefits in student equality, convenience, and school spirit — though finding ways to balance cost and quality remains an ongoing challenge. Lisa Johnson, Principal, American Academy for Girls, said, 'We believe uniforms promote a sense of belonging and help reduce social pressures around clothing brands, allowing students to focus on learning. My support for uniforms is also shaped by my previous experience as principal of the first public school in Oklahoma (US) to adopt uniforms, where they proved effective in fostering equity across a community with varied economic backgrounds. Uniforms also reduce the morning stress of deciding what to wear, which can be particularly pronounced for adolescents. Students, parents involved in designing uniforms Headteachers reiterated when it comes to uniforms, community feedback is also important to schools. 'If we were making a major change, we would consult our families from the outset. As a small school, it can be challenging to offer a wide variety of uniform options while keeping stock available, but we are always exploring ways to allow girls to individualise their style while remaining within our uniform guidelines. 'Our supplier is Magrudy's, one of the largest vendors in Dubai. They incorporate sustainable practices wherever possible, including using a percentage of recycled fabric. At the end of each school year, we also host a uniform drive where parents can donate outgrown items and exchange them for the correct size, which extends the life of each garment and helps reduce the amount of clothing sent to landfills,' added Johnson. GEMS American Academy – Abu Dhabi, is taking a collaborative approach that puts students' comfort and preferences first. Acting Head of the school, Dr Ethan Hildreth, said, 'In addition, we offer alternative fabrics to support students who might have particular needs. Students wear polos rather than ties, in keeping with a school-spirited American team ethos. Students, parents, and school colleagues were all consulted. Student representatives of school government brought in designs they liked, and elements of various designs were discussed. Students were able to try on samples, model them, and use them in practical trial applications. Parents were similarly consulted and were able to wash, dry, crease, and otherwise test the functionality of uniforms, in addition to providing feedback on the aesthetic qualities.'
