Dubai Gold Prices Climb, Remain Below April Highs

Apr 29, 2026

68 min

Apr 29, 2026 06:30

Dubai gold rises, but still sits Dh33 below April peak

## Recent Price Movements

Gold prices in Dubai have seen a slight increase, with 24K gold priced at Dh554.75 per gram and 22K at Dh513.75. This follows a recent decline that brought prices to their lowest in nearly a month. Despite the uptick, prices remain Dh33 below the peak reached in mid-April.

## April's Volatile Market

April was marked by significant fluctuations in gold prices. The 24K gold rate began the month at Dh573, peaked at Dh588 on April 17, and has since decreased. Similarly, 22K gold reached Dh544.50 mid-month before dropping to current levels.

## Buying Opportunities

The recent decline offers buyers a chance to purchase gold at lower prices compared to mid-April. For instance, buying 20 grams of 22K gold now costs approximately Dh615 less than during the peak.

## Global Influences

Globally, gold prices have stabilized after recent losses, trading near $4,590 an ounce. Ongoing geopolitical tensions, particularly between the US and Iran, continue to impact market sentiment. The situation in the Strait of Hormuz remains a focal point due to its potential effect on energy prices and inflation.

## Central Bank Decisions

Upcoming interest rate decisions by major central banks, including the Federal Reserve, are expected to influence gold prices further. The Fed is anticipated to maintain current rates, but any indication of prolonged high rates could affect gold's recovery.

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