Dubai Gold Prices Surge as 24K Gold Exceeds Dh500

Jul 3, 2026

78 min

Jul 3, 2026 06:31

Dubai gold prices climb again as 24K returns above Dh500

## Gold Prices in Dubai

Gold prices in Dubai have risen again, with 24-karat gold surpassing Dh500 per gram. This increase follows two days of gains in the global market. As of Friday morning, 24K gold was priced at Dh503.50 per gram, up from Dh494.75 the previous day. Meanwhile, 22-karat gold also saw an increase, reaching Dh466.25 per gram from Dh458.

## Market Trends

The recent rise in gold prices comes after weak employment data from the United States reduced the likelihood of an interest rate hike by the Federal Reserve. This has led to a surge in gold prices globally, with bullion increasing by up to 1.8% to approximately $4,195 an ounce.

## Economic Factors

The slowdown in US job growth has contributed to expectations that the Federal Reserve might hold off on raising interest rates. This is significant because higher interest rates typically make gold less attractive as an investment since it does not yield interest.

## Oil Prices and Inflation

In addition to gold, oil prices have also eased recently, approaching levels seen before the Ukraine conflict. This is partly due to improved tanker flows through the Strait of Hormuz and ongoing discussions between the US and Iran. Lower oil prices could help reduce inflationary pressures, potentially allowing the Federal Reserve more flexibility in its monetary policy decisions.

## Political Influences

Political developments in the US, including efforts by former President Donald Trump to influence the Federal Reserve's composition, have also impacted gold demand. These moves have revived concerns about the Fed's independence, further supporting gold prices.

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