Dubai Gold Prices Hit Monthly Low Amid US-Iran Tensions

Jul 13, 2026

75 min

Jul 13, 2026 05:30

Dubai gold drops to lowest this month after fresh US-Iran strikes

## Gold Prices Decline

Dubai's gold prices have dropped to their lowest level in July following recent military actions between the US and Iran. On Monday morning, the price for 24-karat gold fell to Dh488.75 per gram, marking a decrease of Dh7.75 from the previous day. This represents a 1.6% decline, bringing the price below Dh490 for the first time this month.

The 22-karat gold also saw a reduction, falling to Dh452.50 per gram, down Dh7.25 from the previous session. Both varieties are now below their early July levels, with 24-karat gold Dh14.25 below its peak of Dh503 and 22-karat gold Dh13.50 below its high of Dh466.

## Market Influences

The decline in gold prices is part of a broader sell-off in precious metals, triggered by renewed geopolitical tensions and rising energy costs. The recent US-Iran strikes have heightened concerns about inflation and interest rates, impacting the gold market. Spot gold prices have fallen by 1.6% to around $4,050 an ounce, while silver has dropped by 3.1%.

## Economic Implications

The geopolitical situation has also affected the Strait of Hormuz, a critical waterway for global oil shipments, adding to market volatility. The US Federal Reserve's recent meeting minutes indicate that some policymakers are considering raising interest rates, which could further impact gold prices. Higher interest rates typically make gold less attractive as it does not yield interest.

Overall, the ongoing geopolitical tensions and economic uncertainties continue to influence the gold market, with prices fluctuating in response to global events.

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