Dubai gold prices hit 90-day high above Dh550 per gram
Gold prices crossed Dh550 per gram in Dubai over the weekend as the precious metal hit a 90-day high on bullish technicals and a weaker dollar.
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Gold prices crossed Dh550 per gram in Dubai over the weekend, marking a 90-day high driven by bullish technicals and dollar weakness. The 24K gold price has risen approximately Dh70 per gram in Dubai in August. Market analysts point to multiple factors influencing the precious metal: lower US Treasury yields, US dollar weakness, policy uncertainty, and geopolitical tensions in the Middle East. The spot gold price closed at $4,603 per ounce on Friday, gaining 1.99 per cent. In the UAE, 24K and 22K gold prices rose to Dh554.75 and Dh513.75 per gram respectively. Other variants closed at: 21K Dh492.5, 18K Dh422.25, and 14K Dh329.25 per gram. Analysts note that gold's recovery reflects a shift in the market capital cycle from high-yield US Treasury bonds toward alternative assets amid fixed-income uncertainty. Physical gold exchange-traded funds saw significant inflows, including $2 billion by SPDR Gold Shares. However, bearish factors including Middle East tensions, declining jewellery demand globally, and reduced investment liquidity in the Middle East and Asia may limit further price appreciation.
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Reported by: Khaleej Times 23 Aug 2026 Read the original ↗ More from Khaleej Times →
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Khaleej Times (UAE).
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23 Aug 2026.
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Read the original at Khaleej Times: https://www.khaleejtimes.com/business/gold-prices-in-dubai-will-24k-hit-dh600-per-gram-again
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