Dubai Gold Prices Reach August Highs

Aug 7, 2026

64 min

Aug 7, 2026 06:31

Buying gold in Dubai this weekend? Prices are back at August’s highest level

## Gold Prices Surge

Gold prices in Dubai have surged, reaching their highest levels since the beginning of August. The price for 24-karat gold hit Dh514 per gram, marking a significant increase from Dh485.50 earlier in the week. Similarly, 22-karat gold rose to Dh476 per gram.

## Price Fluctuations

At the start of August, 24K gold was priced at Dh487.25 per gram but saw a dip to Dh485.50 on August 3. Prices then climbed to Dh492.25 on August 4 and reached Dh514 by August 5. After a slight decrease to Dh510.50 on Thursday, prices returned to Dh514 on Friday.

## Global Market Trends

Globally, gold is experiencing its largest weekly gain in over six months. Spot gold prices increased by 0.7% on Friday, nearing $4,270 an ounce, with a weekly rise of over 5%. The market was buoyed by optimism regarding the potential reopening of the Strait of Hormuz, although tensions in the Middle East had limited immediate effects.

## Investment and Market Dynamics

Investment demand remains strong, with Chinese investors increasing their gold holdings. Gold-backed exchange-traded funds in China have seen continued inflows, marking the longest streak of additions since March. Despite higher interest rate expectations, which typically pressure gold, the metal's price stability above $4,000 an ounce has maintained investor confidence.

Read the full story at the source

What you need to know to get Emirates ID?

Leave your details and get a guide as a gift to avoid mistakes

Article contents