Gold Prices in Dubai Rise to Three-Month High as 24K Nears Dh560
Gold prices in Dubai climbed to their highest level in more than three months on Monday, with 24-karat gold approaching Dh560 per gram as global bullion prices continued to strengthen.
At the Dubai market opening on August 24, 2026, 24K gold was priced at Dh559.50 per gram, up Dh3.50 from the weekend. Other popular gold categories also recorded strong prices, with 22K at Dh518, 21K at Dh496.75, 18K at Dh425.75 and 14K at Dh332 per gram.
Global Gold Prices Continue to Climb
Global spot gold was trading at $4,641.50 per ounce at 9:10am UAE time, marking a 0.58 per cent increase and its highest level since mid-May.
Meanwhile, silver moved in the opposite direction, declining 0.37 per cent to trade at $68.95 per ounce.
Market analysts attributed gold’s recent strength to several factors, including lower US Treasury yields, a weaker US dollar and continued uncertainty surrounding economic and geopolitical policies.
Weaker Dollar Supports Gold
A softer US dollar has provided additional support to gold prices, making the precious metal relatively more attractive to investors holding other currencies.
Tim Waterer, chief market analyst at KCM Trade, said gold had started the week strongly, with the metal responding mainly to dollar weakness and market expectations around interest rates and Treasury yields.
Analysts also pointed to uncertainty in fixed-income markets, with some investors shifting away from higher-yielding US Treasury assets towards alternatives such as gold.
Geopolitical Uncertainty Keeps Safe-Haven Demand Strong
Despite some easing in trade-related tensions, geopolitical uncertainty continues to support gold's traditional safe-haven appeal.
Naeem Aslam, CIO of Zaye Capital Markets, said a temporary pause in proposed tariffs against Canada could reduce one source of near-term economic friction. However, ongoing uncertainty surrounding Iran and broader geopolitical developments continues to provide support for defensive assets.
According to analysts, gold remains particularly sensitive to movements in real yields, currencies, fiscal conditions and geopolitical risks.
Gold Nears Dh600 Mark in Dubai
With 24K gold now at Dh559.50 per gram, prices are moving closer to the Dh600 level that has increasingly become a key psychological threshold for consumers and investors in the UAE.
The latest rise could influence jewellery buyers, investors and consumers planning purchases in the coming days, particularly if international bullion prices maintain their upward momentum.
For Dubai's large gold retail market, global movements in bullion prices, currency trends, interest-rate expectations and geopolitical developments will remain important factors influencing local rates.
