Dubai Gold Prices Fall Dh15.50 in Two Days

Jul 24, 2026

72 min

Jul 24, 2026 08:31

Dubai gold drops Dh15.50 in two days after briefly crossing Dh500

## Recent Gold Price Movements

Dubai's gold market saw a notable decline in prices over the past two days. The price of 24-karat gold, which had briefly surpassed Dh500 per gram earlier this week, fell to Dh485.25 by Friday afternoon. This marks a decrease of Dh15.50 from Wednesday's peak of Dh500.75.

## 22-Karat Gold Trends

Similarly, 22-karat gold prices dropped to Dh449.25 per gram, down from Dh451.50 on Thursday and Dh463.75 on Wednesday. This decline offers a more affordable option for jewelry buyers compared to earlier in the week.

## Market Context

The price drop follows a period of fluctuation throughout July. At the start of the month, 24-karat gold was priced at Dh489.75, reaching a high of Dh503 on July 4 and 5. It then fell to a low of Dh481.50 mid-month before recovering slightly.

## Global Influences

Internationally, gold prices also declined, with a 0.7% drop to around $4,020 an ounce. This comes amid rising tensions in the Middle East and increased Brent crude prices, which could impact inflation. Additionally, expectations of a US Federal Reserve interest rate hike are influencing market dynamics, as higher rates typically reduce gold's appeal.

## Economic Outlook

Traders are anticipating potential interest rate increases by the Federal Reserve, with a 34% chance of a hike in the upcoming meeting. The market has already factored in at least one rate increase by September, with the possibility of further adjustments by year-end.

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