Time To Buy? Dubai Gold Prices Plunge Nearly Dh18 Per Gram In 24 Hours

(MENAFN- Khaleej Times)

[Editor's Note: Want to know the latest gold prices in Dubai? Click here]

Gold prices recovered Dh4.5 per gram in Dubai on Tuesday morning after plunging over Dh22 per gram on Monday due to profit-booking, pushing global rates lower on Monday.

Recommended For You From military use to blood sample transport: UAE-built aircraft prepare for real-world use At least 16 killed after fire rages through Indonesia retirement home

The 24K gold price has lost nearly Dh18 per gram in the past 24 hours in Dubai due to fluctuations in global rates.

According to Dubai Jewellery Group data, 24K gold price opened at Dh525.75 per gram on Tuesday morning, up from Dh521.25 per gram at the close of the markets on Monday.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

Among the other variants of the precious metal, the prices of 22K, 21K, 18K and 14K rose to Dh486.75, Dh466.75, Dh400.0 and Dh312.0 per gram, respectively.

Spot gold was trading at $4,375.86 per ounce at 9.30 am UAE time, up 1.1 per cent. It hit a two-week low late on Monday as it lost over 4.5 per cent in the previous session.

Ahmad Assiri, research strategist at Pepperstone, said that with the holiday period now behind us, metals have further proven their bullish structure firmly intact.

“Gold is retesting the $4,500 level as a consolidation zone, suggesting the market is leaning toward digesting gains... The drivers for both gold and silver remain largely unchanged, rooted in steady geopolitical and policy-related risks that are underpinning demand for metals. On the macro front, expectations for a softer US dollar continue to provide support. Markets are increasingly comfortable with the view that the US Federal Reserve may continue the easing cycle later in the new year, particularly if further cooling emerges in the US labour market. A lower rate environment, combined with a weaker dollar bias, naturally enhances the relative appeal of assets such as gold and silver,” he added.
Additionally, US-China relations remain outwardly calm, yet tensions around critical minerals persist beneath the surface.“These unresolved structural fault lines continue to support metals demand without attracting excessive political attention as for now,” concluded Assiri.

MENAFN30122025000049011007ID1110538268