Dubai Gold Prices Decline After Weekend Surge

Jul 6, 2026

76 min

Jul 6, 2026 06:31

Dubai gold buyers see prices ease after weekend high

## Current Gold Prices in Dubai

Gold prices in Dubai saw a slight decrease on Monday, with 24-karat gold priced at Dh501 per gram, down from Dh503 on Sunday. The 22-karat variety also dropped to Dh464 per gram from Dh466. Despite this decline, prices remain higher than late June levels, when 24-karat gold was at Dh485.25.

## Global Market Influence

The global gold market experienced its first weekly gain since May, influenced by reduced expectations of interest rate hikes by the US Federal Reserve. Comments from Fed Chair Warsh were perceived as less aggressive, leading to lower US Treasury yields and a weaker dollar, which in turn supported gold prices.

## Market Outlook

Ahmad Assiri, a Research Strategist, noted that while gold prices eased on Monday, the overall market sentiment remains positive. However, he cautioned that high yields could continue to limit demand for gold. The market remains uncertain about Warsh's policy direction, contributing to volatility.

## Recent Price Trends

In June, Dubai's gold prices were volatile, with 24-karat gold peaking at Dh522.25 before dropping to Dh485.25 by the end of the month. July has seen a recovery, with prices climbing back above Dh500. The 22-karat gold followed a similar pattern, reaching Dh466 over the weekend before easing slightly.

## Additional Market Factors

Soft US jobs data and lower energy prices have also influenced market expectations, reducing the likelihood of further monetary tightening. Oil prices fell as more tankers passed through the Strait of Hormuz and OPEC+ indicated increased supplies, easing inflation concerns.

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