Brief
Dubai gold prices rise modestly as inflation fears and Fed rate outlook shift
Gold in Dubai climbed about 0.8% to $4,140 an ounce, with 24‑karat price reaching Dh498 after a nine‑week low.
By Felo News Desk · Published
Gold in Dubai inched higher on Saturday, rebounding from a nine‑week low after inflation concerns were stoked by new Middle East tensions and expectations of another Federal Reserve rate hike in 2026, Gulf News reported.
Spot gold rose as much as 0.8% to roughly $4,140 an ounce, while 24‑karat gold in the UAE rose to Dh498 per gram, up from Dh494.18 the previous day. The 14‑karat price was Dh295.75 and the 18‑karat price Dh379. The Bloomberg Dollar Spot Index stayed near its yearly peak, keeping bullion expensive for many buyers.
Hebe Chen, senior market analyst at Vantage Global Prime, told Bloomberg that Fed minutes kept gold under a “stubborn ceiling” as policymakers remained united on inflation but split on whether the September hike was precautionary or the start of tighter policy.
Other metals also firmed, with Chinese buyers returning after a week‑long holiday, adding support to bullion markets.
Key facts
- Dubai 24‑karat gold rose to Dh498 per gram (gulfnews.com)
- Spot gold climbed to about $4,140 an ounce (gulfnews.com)
- Gold rebounded after a nine‑week low (gulfnews.com)
- Hebe Chen said Fed minutes kept gold under a stubborn ceiling (gulfnews.com)
Sources
- [1] gulfnews.com — originally reported as “Dubai Gold Prices Edge Higher Amid Inflation Concerns and Fed Rate Hike Expectations”
