Dubai Gold Prices Decline Amid Global Market Fluctuations

Mar 9, 2026

62 min

Mar 9, 2026 06:31

Dubai gold price drops Dh10 in a day amid global market volatility

## Gold Prices in Dubai

Gold prices in Dubai experienced a significant drop on Monday, with the cost of 24K gold falling by Dh10 per gram to Dh613.25. This decline follows a period of volatility in global markets, influenced by geopolitical tensions and currency fluctuations.

## Recent Price Trends

In recent weeks, gold prices in the UAE have been on a rollercoaster. Early February saw 24K gold priced near Dh598 per gram, which climbed above Dh610 by mid-month. By the end of February, prices had surged to Dh636, before peaking at Dh641 in early March. However, prices have since retreated, settling closer to Dh613.

## Global Influences

The drop in gold prices is partly due to a stronger US dollar and expectations of sustained high interest rates. These factors have pressured international gold prices, which fell sharply, losing up to 3% during trading. Additionally, rising oil prices have contributed to inflation concerns, impacting gold's appeal as a non-interest-bearing asset.

## Market Outlook

Despite the recent dip, gold has seen an 18% increase in value this year, driven by ongoing geopolitical uncertainties and central bank purchases. Analysts suggest that if geopolitical tensions persist, gold prices could rise again, potentially reaching new highs in the long term.

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