Dubai Gold Price Today: 24K Falls to Dh505.50 Per Gram
Dubai gold prices today opened sharply lower on Monday, September 28, with the 24K gold price falling to Dh505.50 per gram. The rate dropped Dh11 from the previous close of Dh516.50, putting the precious metal under renewed pressure.
The decline came as international gold prices weakened amid a stronger US dollar, higher bond yields and changing expectations around US Federal Reserve interest rates.
Gold has also remained sensitive to developments in energy markets and geopolitical tensions. The latest morning gold rates in Dubai and the wider UAE were:
- 24K gold: Dh505.50 per gram
- 22K gold: Dh468 per gram
- 21K gold: Dh448.75 per gram
- 18K gold: Dh384.75 per gram
- 14K gold: Dh300 per gram
The 24K rate has fallen Dh18.25 per gram over the past week, according to the September 28 market update.
The stronger US dollar has been one of the main pressures on gold. Expectations that the Federal Reserve could maintain a restrictive interest-rate position have also weighed on bullion.
Higher interest rates can reduce demand for gold because the metal does not generate interest income. Meanwhile, traders are watching oil prices and developments around the Strait of Hormuz for their potential impact on inflation and monetary policy.
For UAE buyers, the lower rate could make gold more attractive than during recent sessions. However, jewellery customers should remember that the final purchase price can also include making charges and other applicable costs.
