Dubai Gold Prices Decline Amid Geopolitical Tensions and Rising Oil Costs

Apr 24, 2026

75 min

Apr 24, 2026 07:31

Dubai gold prices drop amid war tensions, rising oil costs

## Gold Prices in Dubai

Gold prices in Dubai experienced a decline on Friday, influenced by global market trends. The ongoing conflict involving the US, Israel, and Iran, along with increasing oil prices, has impacted investor confidence. As a result, the price of 24-carat gold in Dubai fell to Dh563.25 per gram, down from Dh565.75 the previous day. Similarly, 22-carat gold decreased to Dh521.50 from Dh524.00.

## Global Market Influences

The drop in Dubai's gold prices aligns with a broader global trend, as international gold prices have been falling for three consecutive sessions. Spot gold prices decreased to $4,679.41, marking a 0.57% decline. This trend follows a four-week rally and is attributed to geopolitical tensions and rising oil prices, which have heightened inflation concerns and expectations of prolonged high interest rates.

## Regional Trends

In Saudi Arabia, gold prices remained stable, with 24-carat gold priced at 598.00 SAR and 22-carat at 550.00 SAR. In contrast, India saw a more significant decline, with 24-carat gold dropping to ₹152,950 per 10 grams and 22-carat to ₹140,200. This sharper decrease reflects the influence of global price pressures and currency fluctuations on local markets.

## Market Dynamics

The current market dynamics are shaped by competing forces. On one hand, geopolitical uncertainties drive demand for gold as a safe-haven asset. On the other hand, high interest rates reduce gold's attractiveness by increasing the opportunity cost of holding it. Additionally, outflows from major gold exchange-traded funds indicate decreasing institutional demand, despite ongoing geopolitical risks.

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