The conflicts in the Middle East are escalating, and their effects are being felt across various commodities and markets. Recently, this has impacted gold prices in Dubai.
According to the latest news, gold prices in Dubai have dropped to their lowest level this month. On the morning of March 16, buyers experienced some relief after several weeks of rising prices. The ongoing geopolitical conflicts have caused gold prices to surge, creating tension among buyers.
Latest reports suggest that at 10.15 am on Monday, the price of 24-karat gold stood at Dh604.25 per gram. The price rate is quite low at Dh604.75, as of March 15, 2026. The report also highlighted that 22-karat gold was traded at Dh559.50. A day earlier, the price for this variety was Dh560.
The latest drop follows a steady easing from the peaks seen earlier in March when geopolitical tensions pushed bullion sharply higher. At the start of March, gold opened at high prices. The 24K gold variety was priced at Dh636 on March 1 and Dh641 on March 2. Similarly, the price range for 22K was traded at Dh589 and Dh593.50 during the first two days of March.
Looking forward, the war has certainly had a major impact on the gold market in Middle Eastern countries. On March 3, prices soon began to fall. The 24K gold dropped to Dh614.25 and Dh619.25 on March 4. The 22K gold rate was reduced to Dh568.75 and Dh573.50 on March 3 and March 4, respectively.
Gold trading in mid-March saw further changes, with prices at Dh611.50 for 24K and Dh566.25 for 22K on March 5. On March 6, the rates stood at Dh620 and Dh574.25. During the 2nd week of March, the gold price reached Dh623.25 for 24K and Dh577.25 for 22K on March 7 and March 8.
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