Dubai Gold Prices Drop Dh10, Expected to Rise in Coming Months

May 4, 2026

76 min

May 4, 2026 16:31

Dubai gold price drops Dh10 per gram, but still expected to rise in May, June

## Current Gold Price Trends

Gold prices in Dubai saw a significant drop at the start of the week, with 24-carat gold decreasing by Dh10 per gram. This brought the price down to Dh546 from Dh556. Similarly, 22-carat gold fell to Dh505.50 per gram. This decline offers a temporary relief for buyers in the region.

## Future Price Expectations

Despite the recent decrease, experts predict that gold prices will likely rise in May and June. Factors such as seasonal demand, macroeconomic conditions, currency depreciation, and supply constraints are expected to drive this increase. A correction is anticipated in July, which could lead to renewed buying interest as festive and wedding seasons approach.

## Global Gold Market Insights

Globally, gold is stabilizing, with support levels identified between $4,520 and $4,600 per ounce. Prices could potentially rise to $4,800–$4,850. In India, gold trades at a premium due to currency weakness, with current prices around ₹1,49,860 per 10 grams. The softer US dollar, influenced by lower crude oil prices, may further support gold prices.

## Long-term Demand Factors

Central bank activities are shaping long-term demand for gold. The share of the US dollar in global reserves has decreased, while gold's share has nearly doubled over the past four years. Emerging market economies are increasing their gold holdings as a hedge against geopolitical and financial risks.

Overall, the recent price drop in Dubai is seen as a short-term correction rather than a change in trend, with market attention focused on potential buying opportunities at lower prices.

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