UAE jewellers are competing for Diwali shoppers by offering major discounts, zero making charges, and free gold coins or jewellery, despite record-high gold prices.

To boost sales during the festival, jewellers have introduced a curated diamond, gold, and gemstone jewellery with contemporary designs.

“We are offering zero making charges on our entire jewellery. On diamond pieces, we have a special discount of 60 per cent plus free gold coins and jewellery as gifts. We're also running premium exchange offers where customers receive the best market rates for their old gold. For purchases above certain value thresholds, we're presenting complimentary gold coins and jewellery gifts,” said Chirag Vora, managing director of Bafleh Jewellers.

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Kanz Jewels is running a Wheel of Fortune at its Meena Bazaar showroom until October 25, with guaranteed prizes like Dh1,000 cash, silver coins, concert tickets, dining vouchers, and instant surprises with every purchase.

“This season, we wanted to make their Diwali truly memorable with guaranteed rewards that bring smiles and sparkle to their celebrations,” said Anil Dhanak, managing director of Kanz Jewels.

On Saturday, gold prices were trading close to an all-time high. According to Dubai Jewellery Group data, 24K, 22K, 21K, and 18K were trading at Dh512.25, Dh474.25, Dh455, and Dh390 per gram, respectively.

Spot gold closed the week at $4,249.94 per ounce, down 0.94 per cent. It hit a record high of $4,378.98 per ounce last week.

Known as the festival of lights, Diwali will be celebrated on Monday, October 20, 2025.

Liali Jewellery is offering shoppers complimentary gold coins with every purchase. On a purchase of Dh4,000-Dh8,000, customers will receive a 1-gram gold coin; on a purchase of Dh8,001-Dh12,000, people will receive a 2-gram gold coin; on a purchase of Dh12,001-Dh15,000, shoppers will get a 3-gram gold coin; and 4-gram gold coins on a purchase above Dh15,001.

“We're also enhancing the in-store experience through refreshed boutique designs, personalised services, and curated festive collections that combine contemporary style with timeless craftsmanship. Shoppers today are looking for emotional connection and long-term value, not just price cuts - so the goal is to make every purchase feel special and memorable,” said Anuraag Sinha, managing director of Liali Jewellery.

Shamlal Ahamed, managing director for international operations, Malabar Gold and Diamonds, said they're offering cash vouchers on jewellery purchases, zero deduction on 22K gold exchange, and a 'Pay 10 per cent Advance' plan that allows customers to lock in the current gold rate and secure protection against future price fluctuations.

“Should prices rise, customers enjoy the blocked rate; if they fall, they benefit from the lower rate. Consumer confidence in gold as an investment is at an all-time high. The assurance of gold delivering record returns due to its inherent value appreciating nature is driving more footfall to our showrooms, despite the high gold rates,” he added.

Aditya Kejriwal, Head of Marketing, International Business Titan Company Limited, said they're offering an old gold exchange offer, which makes the higher prices an asset rather than a problem.

“Additionally, we have a Shagun (auspicious gift) offer of a discount on the gold rate itself for everyone,” he said.

“The jewellery industry this time around seems to be offering a bouquet of offerings for customers, rather than one single offer. Besides, most brands are focusing on creating a festive atmosphere with store decorations. Some brands have also launched new collections during this period. This is indeed a time to make smart choices by customers,” added Kejriwal.

Dubai-based jeweller Joyalukkas said customers spending Dh4,500 on diamond and precious stone jewellery will receive a complimentary 500mg 24K gold bar, while purchases of Dh8,000 on diamond and precious stone jewellery or Dh30,000 on gold jewellery come with a 1 gm 24K Lakshmi idol or gold bar.
For grand celebrations, spending Dh60,000 on diamond and precious stone jewellery will be rewarded with a 10 gm 24K gold bar.

Additionally, customers spending Dh3,000 on diamond and precious stone jewellery will get a Dh100 cash voucher 22K gold coin on spending Dh3,500 on gold jewellery. The offer is valid only on October 19.“We are also offering no making charges on eight-gram gold coins and zero deductions on old gold exchange,” the jeweller said.

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