UAE gold prices drop: Shoppers get big price break for Eid Al Fitr, Akshaya Trithiya

This year, gold shoppers in the UAE finally realised the value of price lock-in schemes. While today’s gold rate is quite favourable, last week was quite a different story.
Ahead of Eid and Akshaya Trithiya, gold prices were heading higher – and it was felt out reach for many shoppers. Or would have seen them buy less than they would have typically spent.

This is where price lock-ins can help. Multiple retailers are offering these, and what it means is that if a buyer finds that day’s price as being favourable, then he or she can make a booking to buy within a month or two.

All that is needed is a 10 per cent upfront payment. Even if prices head higher on the day of the actual purchase, the shopper still gets the lower UAE gold rate.

And if prices were to actually drop further, then that benefit too gets passed on. Savvy shoppers in the UAE have been quick to latch on to this price protection scheme.