Dubai Gold Prices Near August Peak

Aug 17, 2026

71 min

Aug 17, 2026 05:30

Dubai gold prices climb close to August high, what buyers are paying now

## Gold Prices Surge in Dubai

Dubai's gold market is witnessing a significant rise in prices, nearing the highest levels seen in August. As of Monday morning, the price for 24K gold reached Dh531 per gram, marking a Dh3.50 increase from the previous day. This price is just Dh2.25 shy of the month's peak of Dh533.25, recorded on August 12.

## Price Trends

Since the start of August, 24K gold has surged by Dh43.75 per gram, representing an almost 9% increase. Similarly, 22K gold has risen from Dh451.25 to Dh491.75 per gram, a gain of Dh40.50. The rapid price changes began early in the month, with 24K gold initially priced below Dh500 per gram.

## Global Influences

Internationally, gold prices are also on the rise, trading near $4,400 an ounce. This increase is partly due to weaker US retail sales and declining consumer sentiment, which have impacted the dollar. A weaker dollar makes gold more attractive to buyers using other currencies. Additionally, increased central bank purchases, including those by China, have supported the global gold market.

## Energy and Geopolitical Factors

Tensions in the Strait of Hormuz continue to influence global markets, with recent attacks on ships adding to uncertainty. The US is preparing new economic measures against Iran, while discussions between Iran and Oman about managing the waterway are ongoing. These geopolitical factors, along with energy supply concerns, are contributing to the current market dynamics.

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