Dubai Gold Prices Drop Amid Global Market Rally

Feb 26, 2026

65 min

Feb 26, 2026 05:31

Dubai gold falls Dh3.50 while global rally pushes prices near $5,200

## Local Gold Prices Decline

Gold prices in Dubai experienced a slight drop on Thursday morning, providing a temporary relief for buyers after a turbulent February. The 24-karat gold rate fell to Dh624.75 per gram from Dh628.25 the previous day, while the 22-karat variety decreased to Dh578.50 from Dh581.75.

## February's Volatile Trends

February saw significant fluctuations in gold prices. Starting the month at Dh589.50 for 24K gold, prices dipped sharply to Dh564.25 on February 2, before rebounding above Dh590. By mid-February, prices exceeded Dh600, peaking at Dh628.25 on February 25. Despite the recent dip, the overall trend for the month has been upward.

## Global Market Influences

Globally, gold prices have been rising, nearing $5,200 an ounce, driven by geopolitical tensions and trade uncertainties. The metal has gained nearly 6% over the past week and is up almost 20% this year. Factors such as US sanctions on entities linked to Iran and new tariff measures have contributed to this trend.

## Buyer Sentiment in Dubai

Despite the recent price drop, Dubai residents remain cautious as prices are still higher than at the year's start. Short-term declines may attract some buyers, but the overall direction of prices is influenced by global market conditions. Any further geopolitical or trade tensions could push prices higher again.

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