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Buy gold for nearly 70% less? UAE shoppers warned about jewellery scams
Finance

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With gold prices making dramatic moves in early 2026, consumers across the UAE are being urged to stay cautious when shopping for jewellery online. Authorities and industry experts are raising concerns over suspicious websites offering gold at prices far below market value, warning that such deals may not be legitimate.

The appeal is obvious—who wouldn’t be tempted by gold sold at a fraction of its usual price? However, experts stress that unusually low prices are often a red flag. Reports have surfaced of buyers paying significantly less than the actual value for items advertised online, only to later discover inconsistencies or potential issues with their purchases.

Consumers are strongly advised to rely on trusted and well-known retailers when buying gold or jewellery. Verifying current market rates before making a purchase is also essential, as it helps buyers quickly identify deals that seem unrealistic. If a product is priced far below the standard rate, it is likely not a genuine offer.

Authorities have also cautioned against misleading advertisements and social media promotions that claim to offer high-quality gold at steep discounts. These listings often appear convincing but may be linked to unreliable or unverified sellers.

Adding to the complexity, gold prices themselves have been highly volatile this year. After reaching record highs earlier in 2026, prices saw a sharp decline in recent months. This fluctuation has created confusion among buyers, making it even more important to stay informed about current rates and market trends.

Despite the uncertainty, demand for certain types of gold jewellery remains strong. In particular, lighter karat options such as 14K gold have gained popularity among international visitors, especially those seeking more affordable alternatives while still enjoying quality craftsmanship.

Ultimately, experts emphasize that awareness is the best protection. Checking official price benchmarks, purchasing from reputable sources, and avoiding deals that seem unusually cheap can help consumers make safer and more informed decisions.

Toward the end of the first quarter of 2026, gold prices had surged to record levels before dropping sharply within weeks, highlighting just how quickly the market can change. Combined with warnings from industry groups and authorities about suspicious online offers—some priced at nearly one-third of typical market rates—shoppers are encouraged to remain vigilant and prioritize authenticity over apparent bargains.

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