Is gold losing its lustre with UAE's younger buyers?

The UAE's younger generation is redefining their relationship with gold, shifting from traditional heavy pieces to lighter, more wearable designs. While gold remains significant, millennials and Gen Z focus on wearability and everyday use, preferring smaller, contemporary pieces that fit their wardrobes, budgets, and lifestyles.

Maha Ali, a 27-year-old Emirati citizen in Dubai, buys gold every few months, investing in heavier designs occasionally but generally favoring smaller pieces for daily wear. She learned the value of investing in gold from her family, seeing it as something that can be both enjoyed and appreciated for future gains.

Amreen Iqbal, founder and creative director of Piece of You, has observed a clear increase in younger customers selecting lighter, more wearable pieces across generations. She notes that gold is becoming less about occasions and more about being worn daily, layered, and styled in various ways. Lighter chains, rings, bracelets, and pendants are favored by younger customers, as they retain gold's financial and emotional value while being easier to wear for work, social events, and travel.

Design plays a crucial role in younger buyers' preferences. They want pieces that reflect their personality, can become part of their everyday wardrobe, and still hold intrinsic value. This trend has driven demand for versatile, layered, and mixed jewelry that can be worn in various settings.

18-karat gold is also gaining popularity among younger consumers, particularly those seeking contemporary design and durability. Its appeal lies in its practicality, allowing them to own fine jewelry without the heavy price tag of heavier pieces. Companies like Joyalukkas have responded to this trend by introducing collections such as Yuva and Joy18, featuring lightweight, contemporary designs.

Despite rising gold prices, younger consumers remain cautious and often start with smaller pieces. Established customers, especially those purchasing for weddings or milestone family events, remain committed to gold. The key difference is the size and purpose of their initial purchases. Young buyers may be buying differently, but gold still holds a place in their lives, serving as both a beautiful possession and an investment.