Dubai Gold Prices Climb Over Dh11 as 24K Reaches New May Peak

May 6, 2026

64 min

May 6, 2026 06:31

Dubai gold prices jump more than Dh11 as 24K hits fresh May high

## Gold Prices Surge in Dubai

Dubai witnessed a significant rise in gold prices, with the 24-karat variety reaching Dh560 per gram on Wednesday morning, marking an increase of over Dh11 from the previous day. The 22-karat gold also saw a rise, priced at Dh518.75 per gram, up from Dh508.

## Price Fluctuations in May

Gold prices in Dubai have experienced fluctuations since the beginning of May. The 24K gold started the month at Dh557.50, dipped to Dh546 on May 4, and then climbed back to Dh560. Similarly, 22K gold began at Dh516.25, dropped to Dh505.50, and rose to Dh518.75.

## Global Influences

The increase in Dubai's gold prices aligns with global trends, as gold prices rose internationally following developments in US-Iran relations. President Trump's announcement of progress in talks with Iran contributed to a weaker dollar, making gold more attractive to international buyers. Gold prices globally rose by as much as 1.6% to near $4,630 an ounce.

## Economic Implications

The ongoing tensions in the Strait of Hormuz and potential changes in US interest rates continue to influence gold prices. While the Federal Reserve's next move remains uncertain, expectations of a rate hike could impact gold's appeal, as higher interest rates typically reduce the attractiveness of non-yielding assets like gold.

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