Gold Prices In Dubai At Record High Again Will 24K Hit Dh450 Per Gram Today?

Gold prices in Dubai soared to a new all-time high on Monday afternoon, climbing nearly Dh5 per gram. The price of 22K gold breached Dh415.5 per gram, while 24K edged closer to the symbolic Dh450 mark.

According to data from the Dubai Jewellery Group, 24K gold rose by Dh4.75 to Dh448.75 per gram. Meanwhile, 22K was priced at Dh415.5, up Dh4.25 from the previous session. Similarly, 21K gold approached the Dh400 threshold, trading at Dh398.5 per gram, while 18K stood at Dh341.5.

This price surge is leaving UAE gold jewellery buyers at a crossroads - should they purchase now in anticipation of further increases, or sell amid speculation that the rally has peaked? If this uncertainty continues, analysts suggest that 24K gold could touch Dh450 per gram as early as today, or later this week. Globally, spot gold was trading at $3,723.98 per ounce, up 1.03 per cent as of 4 PM UAE time.

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Rania Gule, senior market analyst for Mena at xs, attributed the record-breaking rise to the US Federal Reserve's recent 25 basis point rate cut in September – the first since early 2025.

“Although widely expected, the Fed's decision had a significant impact on global markets, especially against the backdrop of a weakening US labour market and slowing job growth,” Gule said.“In my view, this marks a pivotal moment in the monetary policy cycle, as the Fed navigates between the risks of persistent inflation and a potential recession marked by job losses. In such an uncertain environment, gold continues to serve as a key hedge.”

Gule also noted that escalating geopolitical tensions are playing a critical role in boosting gold prices.

“Russia's intensified drone and missile attacks, along with growing unrest in Eastern Europe and the Middle East, have reinforced gold's traditional status as a safe-haven asset,” she explained.“Historically, heightened geopolitical risks have driven demand for gold – especially when combined with looser monetary policies. This will likely remain a strong supporting factor in the short and medium term, maintaining prices near their historical highs.”

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