Gold prices in Dubai moved lower offering relief to buyers after a strong rally earlier this month. The correction tracked weakness in global bullion markets as investors reassessed expectations around interest rates and safe-haven demand.
In Dubai’s retail market, 24K gold fell to AED 533.25 per gram from AED 539.75 in the previous session. The widely traded 22K category dropped to AED 494 per gram. Traders across the Gold Souk said customer inquiries improved after prices eased from recent peaks.
The softer trend spread across all major purity segments in the local market. The price of 21K gold settled at AED 473.50 per gram, while 18K gold stood at AED 406 per gram. For larger purchases, 10 grams of 24K gold cost AED 5,332.50. One tola reached AED 6,217.69.
In the 22K category, 10 grams were priced at AED 4,940, while one tola stood at AED 5,760.04. Jewelers said final billing at retail outlets may include making charges depending on the design and craftsmanship of the jewelry piece.
| Karat | Per Gram (AED) | 10 Grams (AED) | 1 Tola (11.66g) (AED) |
|---|---|---|---|
| 24K | 533.25 | 5,332.50 | 6,217.69 |
| 22K | 494 | 4,940.00 | 5,760.04 |
| 21K | 473.5 | 4,735.00 | 5,521.01 |
| 18K | 406 | 4,060.00 | 4,733.96 |
Bullion analysts linked the latest decline to profit-booking activity in international markets and changing expectations around central bank policy timelines. The slowdown in global spot prices quickly reflected in Dubai’s retail trade.
The UAE dirham remains pegged to the US dollar, which keeps local gold prices closely aligned with international market movements. Traders said fluctuations in overseas bullion prices continue to shape daily retail rates across Dubai’s jewelry hubs.
Retailers expect stronger footfall if prices remain stable through the weekend. Tourists and local buyers have remained cautious after repeated swings in gold rates during May.
Market participants said volatility may continue in the near term as investors react to fresh global economic signals. Even after the latest dip, gold prices remain elevated compared to levels seen earlier this year, keeping sentiment in the retail market mixed.
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