Dubai Gold Prices Drop, Offering Relief to Buyers

Jul 2, 2026

61 min

Jul 2, 2026 06:30

Dubai gold buyers get relief as prices stay below June highs

## Gold Prices in Dubai

Dubai's gold market experienced another price drop, providing some relief to buyers. As of Thursday morning, 24-karat gold was priced at Dh489.25 per gram, slightly down from Dh489.75 the previous day. The 22-karat variety also saw a minor decrease, now at Dh453 per gram.

## Price Trends

Gold prices in Dubai have been on a downward trend since their peak in early June. On June 3, 24-karat gold was at Dh536 per gram, reaching Dh538.50 the following day. However, prices have gradually decreased, with significant drops observed in the latter half of June. By the end of June, prices had fallen below Dh490 for several sessions.

## Global Market Influence

Despite the local decline, global gold prices have been rising. This increase follows comments from US Federal Reserve Chairman Kevin Warsh, which eased fears of further interest rate hikes this year. Gold prices globally rose by 0.9% to around $4,066 an ounce after a previous 0.6% increase.

## Future Outlook

The next significant indicator for gold prices will be the upcoming US jobs data, which could influence the Federal Reserve's policy decisions. Recent US economic data has shown mixed results, with steady private-sector hiring but slower manufacturing growth.

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