“Yes, we’re already seeing a strong uptick in demand as Diwali and Dhanteras approach,” said Dr. Joy Alukkas, Chairman of Joyalukkas Group. These occasions hold deep emotional and cultural significance, plus gold continues to be the most cherished symbol of prosperity and celebration.”
Lighter designs, smarter spending
The trend on the ground is that shoppers are choosing lighter, more wearable jewellery over heavy, ornate sets. Jewellers say this shift is both a practical response to soaring prices and a reflection of changing lifestyles.
“Gold continues to be valued both as a long-term investment and as an integral part of traditions, with purchases being largely occasion-driven rather than discretionary,” said Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers. “While customers plan their purchases within defined budgets, they continue to invest in jewellery for key life events and festive occasions. We are upbeat about the festive season, supported by healthy pre-bookings, fresh collections, and campaigns.”
Here’s how to buy jewellery smartly this Diwali
For many Indian families in the UAE, gold remains both an emotional and financial anchor. While prices are steep, there are ways to make the most of this season’s purchases.
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Opt for lighter, versatile pieces: Choose 18K or 22K designs that blend style with affordability. Lightweight jewellery now carries the same sparkle at a fraction of the cost.
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Buy in instalments or pre-book: Many retailers offer fixed-price booking schemes, allowing buyers to lock in rates before further increases.
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Look beyond weight: Value is increasingly in design and craftsmanship. Brands are competing on innovation rather than just grams.
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Choose certified pieces: Even small purchases should come with proper certification and hallmarking for purity and resale assurance.
A shift in gifting trends
“The heavier pieces are definitely more difficult to sell, so ahead of Diwali, when people want to gift, they are opting more for lighter-weight jewellery,” said Arjun Dhanak, Director at Kanz Jewels.
Dhanak expects prices to remain firm for the rest of the year. “If we look at the last 10 years, the last quarter of every year, the gold prices have gone up. So, I do expect it to go up. There will be a correction, but I don’t expect it to be as significant,” he said.
Even as everyday buyers adjust, the luxury end of the market continues to thrive. According to Nishith Shah, CEO of La Marquise Fine Jewellery, high-end clients are still purchasing elaborate designs paired with diamonds and coloured stones.
“Yes, we do see a surge in demand for jewellery ahead of Diwali and Dhanteras, especially from clients seeking luxurious and exclusive designs,” Shah said. “Statement pieces and heavier creations often paired with certified natural diamonds or coloured stones move strongly, as they represent both adornment and a meaningful investment during the festive season.”
At the Deira Gold Souq, the mood is unmistakably festive. Prices may have soared, but the cultural pull remains undiminished.
