Gold is cheaper this Diwali: Here's what UAE residents are planning to buy

Dubai: For many Indian families in the UAE, Diwali shopping begins at the jewellery counter. This year, they are excited to know that gold costs less than it did in the previous Diwali. On October 28, 2025, 24-carat gold was priced at Dh486.50 per gram, while 22-carat was Dh450.50. Last year on Diwali day, October 20, 2025, the same gold had cost Dh512.25 and Dh474.25 per gram.

The main reason behind this price drop is the festival of Dhanteras, which falls on November 6 this year. Buying gold, silver or new utensils on this day is believed to bring blessings from Lakshmi, the goddess of wealth.

Babita, an Indian resident from New Delhi, plans to buy a gold coin for her son this year. She prefers buying a coin over a ring as it is more cost-effective and she doesn't want to compromise on the quality. Neetu Mudgal, another Indian expat, is planning to buy bangles or a bracelet for herself, seeing it as an investment. Mitesh Makwana, a resident of the UAE, says his shopping list this year is similar to his customers who compare purity, making charges, and buyback terms before making any commitments.

The lower gold price has not changed his decision to buy, only the quantity he is willing to purchase. He advises customers to buy in smaller quantities every festival to make the most of the reduced prices.