Brief
Dubai Gold Prices Drop 11 Dirhams to Dh505.5 Per Gram
The precious metal slid 11 dirhams per gram as traders weigh a hawkish Fed outlook and a recovering US dollar.
By Felo News Desk · Published
Dubai’s 24‑karat gold fell 11 dirhams per gram to Dh505.5 on Monday morning, according to the market opening data reported by Khaleej Times. The drop follows a week‑long decline of 18.25 dirhams, reflecting pressure from a stronger US dollar and expectations of further Federal Reserve rate hikes.
Other gold grades also slipped: 22‑karat traded at Dh468, 21‑karat at Dh448.75, 18‑karat at Dh384.75 and 14‑karat at Dh300 per gram. Global spot gold fell 2.01 per cent to Dh4,191.88 per ounce, while silver fell 3.51 per cent to $61.92 per ounce as of 9:10 am UAE time.
Chief Investment Officer Vijay Valecha of Century Financial said the metal’s trajectory has been shaped by higher borrowing costs and a strong dollar. He noted that traders are recalibrating Fed policy expectations, keeping support around the $4,261 level intact. Valecha added that many investors still expect gold to climb as a portfolio hedge, with ETF demand remaining strong.
Head of business development at xs.com, Simon‑Peter Massabni, echoed the view that a stronger dollar, rising Treasury yields and Fed rate expectations are pressuring gold. He highlighted the impact of energy costs and the Fed’s restrictive stance on bullion prices.
Earlier this month, Felo News reported a similar decline in Dubai gold prices, citing a 9‑dirham drop in 24‑karat gold amid Fed rate concerns and oil price swings. The current fall continues that trend, underscoring the sensitivity of local gold markets to global monetary policy and commodity price movements.
Key facts
- 24‑karat gold traded at Dh505.5 per gram on Monday (khaleejtimes.com)
- Gold fell 11 dirhams per gram from the previous day (khaleejtimes.com)
- Other grades: 22K Dh468, 21K Dh448.75, 18K Dh384.75, 14K Dh300 (khaleejtimes.com)
- Global spot gold fell 2.01% to Dh4,191.88 per ounce (khaleejtimes.com)
- Silver fell 3.51% to $61.92 per ounce (khaleejtimes.com)
Background
Felo News previously covered a 9‑dirham decline in Dubai 24‑karat gold on 24 September, noting Fed rate concerns and oil price volatility.
Sources
- [1] khaleejtimes.com — originally reported as “Gold price in Dubai loses Dh11 as 24K slips to Dh505. 5 per gram”
