Dubai gold price drop in early trade; 18K slips below Dh400 per gram

24K gold price slipped to Dh524.25 per gram in Dubai on Wednesday as spot prices eased ahead of Fed minutes, pulling 18K below the Dh400 threshold

PUBLISHED: Wed 19 Aug 2026, 9:45 AM

By:
Waheed Abbas

Gold prices slipped in Dubai on Wednesday morning as precious metal fell globally ahead of the US Federal Reserve meeting minutes release later in the day.

According to Dubai Jewellery Group data, the 24K gold price was trading at Dh524.25 per gram at the market open on Wednesday, down from Dh526.0 per gram on Tuesday.

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Among the other variants of the precious metal, 22K and 21K were trading slightly lower at Dh485.5 and Dh465.5 per gram, respectively.

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In the UAE, 18K gold prices fell below the key psychological level of Dh400 per gram on Wednesday morning, trading at Dh399 per gram. While 14K, the most affordable variant of the precious metal, was trading at Dh311.25 per gram.

Spot gold was trading at $4,340 per ounce, down 0.56 per cent. The prcious metal surpassed $4,400 level earlier this week.

Rania Gule, senior market analyst for Mena at XS.com, said the significance of these levels goes far beyond the price itself as they reflect a clear shift in the balance of forces driving the precious metal.

“Gold is now operating in a more favourable environment for regaining its bullish momentum. However, the continuation of this trend will depend on the metal’s ability to consolidate its gains and avoid a scenario in which geopolitical developments become a source of inflationary pressure that forces the Fed to adopt a more hawkish stance once again. The most influential factor behind gold’s current price action is the shift in expectations surrounding US monetary policy. Recent economic data, led by weaker-than-expected July nonfarm payrolls, along with more moderate inflation indicators, have reduced the likelihood of a rate hike at the next Federal Reserve meeting,” she added.