In Dubai’s Gold Souk, bullion’s record run brings little joy for jewellers – Middle East Monitor

In the bustling Gold Souk in Dubai, dubbed the “City of Gold”, 22-karat gold jewellery is a traditional favourite for weddings, religious celebrations and as a family investment, Reuters reports.

Yet, with bullion prices hitting record highs above $3,400 an ounce, there are signs of change, as buyers look to diamonds and lighter gold jewellery, instead.

While US tariffs and other factors have added fire to already hot demand for gold as an investment, the…