Gold Price Today UAE Slips Further Below The Dh500 Mark
The gold price today UAE opened lower on Monday, slipping close to 3.25 per cent from Friday’s close and staying under Dh500 a gram for the second week running. Jewellery shoppers checking rates this morning found 24-karat gold trading at Dh489.75 per gram, down from Dh495.50 at Friday’s close.
Other karats followed the same downward path. 22-karat gold was priced at Dh453.50, 21-karat at Dh435.00, 18-karat at Dh372.75, and 14-karat at Dh290.75 per gram. The overall pullback means gold is now trading almost 25 per cent below the record highs it touched back in January.
Analysts tracking the market say the metal could stay under pressure in the near term, as expectations of higher energy costs are pushing traders to price in interest rates staying elevated for longer.
That combination tends to weigh on gold, since the metal doesn’t pay any interest and becomes less attractive when returns on cash and bonds look more competitive.
For UAE residents, the dip offers a small window of relief for anyone planning a wedding purchase or simply topping up a savings stash in gold, though jewellers note that making charges are usually flat per gram rather than tied to the metal’s value, so those costs are unlikely to shift much.
