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Dubai Jewellers Reinvent Strategy to Woo Back South Asian Gold Shoppers

As India slashes import duties, Dubai’s gold retailers pivot to unique designs, global sourcing, and superior craftsmanship to retain their core market.

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Dubai’s jewellery industry is undergoing a strategic transformation to re-engage its core South Asian customer base, particularly Indian gold buyers, amid shifting global and regional market dynamics. Once favored for its price advantage, the city is now responding to India’s recent reduction in gold import duty—from 15% to 6%—which has significantly narrowed the price gap between the two markets.

This change has impacted buying habits among Indian tourists and residents, many of whom traditionally flocked to Dubai during festivals like Akshaya Tritiya and Diwali for jewellery shopping. To adapt, Dubai jewellers are shifting focus from just pricing to a value-driven experience built on design innovation, quality, and exclusivity.

Retailers are expanding their collections with contemporary pieces sourced from countries like Turkey, China, Italy, and Singapore, while also investing in locally made jewellery that caters to modern tastes. Unique design offerings—such as Turkish and Calcutta styles, temple-inspired motifs, and enamel work—are being emphasized to distinguish Dubai’s offerings from what’s available in India.

Craftsmanship has taken center stage, with retailers highlighting high-quality finishes and intricate details that appeal to a more discerning global clientele. Lightweight yet visually striking designs are trending, along with lab-grown diamond options for consumers seeking affordable luxury.

While the Indian gold rush has slowed, Dubai continues to attract buyers from diverse markets such as China, Singapore, Africa, and Europe. Industry experts note that tourists today are looking for more than just price—they value an immersive shopping experience, rare design aesthetics, and high craftsmanship.

By reinventing its jewellery retail strategy, Dubai is reaffirming its place as a world-class destination for gold and fine jewellery, driven by innovation, variety, and a refined shopping experience.

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International News

Precious Metals Under Pressure: Diplomatic Shifts, Geopolitical Risk, and Central Bank Outlook AUGMONT BULLION REPORT

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  • Safe-Haven Dynamics – Gold is trading below $4650 as investors evaluate ongoing diplomatic efforts to resolve the US–Iran conflict. The crisis has caused a significant energy supply disruption and heightened inflation concerns. Iran has proposed halting its operations in the Strait of Hormuz in exchange for a complete ceasefire and removal of the US blockade on Iranian ports.
  • Geopolitical Developments – Tehran has submitted a new proposal to Washington via Pakistani intermediaries, offering to reopen the Strait of Hormuz conditional on the US lifting its blockade, while postponing discussions on its nuclear program. Washington remains skeptical and is likely to respond with counter-proposals in the near term. Iran’s nuclear ambitions remain the central point of disagreement between the two sides.
  • Macro-economic Signals – Markets are also focused on upcoming monetary policy decisions by the Fed, ECB, and BOJ this week. Persistent energy price inflation, driven by Middle East tensions, has strengthened expectations that central banks may maintain or further raise interest rates. This monetary tightening outlook is exerting downward pressure on gold prices. 

Technical Triggers

  • Gold has broken the important support of $4650 (~ Rs 151,000), the next target is $4550 (~ Rs 147,500).
  • Silver is on the verge of breaking $73 (~ Rs 235,000). If prices sustain below this level, the next target is $70 (~ Rs 225,000).

Support and Resistance

International Gold Support Level
International Gold Resistance Level 
Domestic Gold Support Level
Domestic Gold Resistance Level
: $4550/oz
: $4850/oz 
: Rs 147,500/10 gm
: Rs 155,000/10 gm
International Silver Support Level
International Silver Resistance Level 
Domestic Silver Support Level
Domestic Silver Resistance Level
: $70/oz
: $77/oz 
: Rs 225,000/kg
: Rs 245,000/kg 

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