Dubai Gold Prices Rise Slightly Amid US Inflation Easing

Jul 15, 2026

75 min

Jul 15, 2026 05:30

Dubai 24K gains Dh5 in two days but remains Dh14.50 below July peak

## Gold Prices in Dubai

Gold prices in Dubai have seen a modest increase, with the 24-karat variety rising by Dh5 over the past two days. As of Wednesday morning, the price reached Dh488.50 per gram, up from Dh487.50 the previous day. The 22-karat gold also experienced a slight increase, moving to Dh452.25 from Dh451.50.

## Comparison to July Peak

Despite this recent uptick, gold prices remain significantly below their early July peak. At the start of the month, 24K gold was priced at Dh489.75, climbing to a high of Dh503 by July 4-5. The current rate is still Dh14.50 below this peak. Similarly, 22K gold, which peaked at Dh466, is now Dh13.75 below that level.

## Influence of US Inflation Data

The recent price movements are influenced by easing concerns over US interest rate hikes, following weaker-than-expected inflation data. This has led to a rally in government bonds and reduced expectations of a Federal Reserve rate increase this month. Lower interest rates generally support gold prices, as the metal does not yield interest or dividends.

## Broader Economic Context

The decline in US inflation was partly due to a significant drop in gasoline prices, offering some relief from previous energy shocks. However, ongoing geopolitical tensions and potential increases in crude oil prices could maintain inflationary pressures, potentially affecting gold prices further. Gold has seen a modest recovery this month after a significant decline in the second quarter, driven by expectations of tighter US monetary policy and a stronger dollar.

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