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Gold price today in Dubai: 24K rises to Dh530.25 as rally continues
In one week, gold prices in Dubai have increased by Dh36.5 per gram for the 24K variant, giving ample relief to investors and jewellery shoppers in the city
- PUBLISHED: Wed 12 Aug 2026, 9:25 AM
Gold prices in Dubai continued to climb on Wednesday morning following a strong rebound last week.
The 24K variant was trading at Dh530.25 per gram at the market open on Wednesday, up from Dh528.75 at Tuesday’s market close, gaining Dh1.5. Other variants of the metal, 22K, 21K, 18K and 14K, were trading higher at Dh491, Dh471, Dh403.50, and Dh314.75, respectively.
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The spot gold price was trading globally at $4,401.02 per ounce, up 0.45 per cent. Silver was also up 0.87 per cent, trading at $65.34 per ounce.
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This comes as the yellow metal rally continues. In one week, gold prices in Dubai increased by Dh36.5 per gram for the 24K variant, giving ample relief to investors.
Analysts say that gold’s repeated resistance to selling attempts below the global spot price $4000 is the most notable development. “The most notable development across precious metals is not the strength of last week's rebound, but the sell-off that failed to materialise beforehand when gold repeatedly resisted selling attempts below $4,000, while silver found buyers below $57,” Ole Hansen, Head of Commodity at Saxo Bank, said.
He explained that this resilience, which last week drove a 7 per cent rebound in gold, came despite several headwinds, including elevated bond yields, renewed concerns about US rate hikes driven by rising inflation amid surging fuel costs, a stronger dollar and subdued investment demand from Western asset managers.
Gold lost the most in the second-quarter since 2013, while it has fallen sharply from its January record above $5,500, he said. “Yet the inability of sellers to force a sustained break below $4,000 increasingly suggested that underlying demand remained strong enough to absorb liquidation from more rate-sensitive investors.”
Hansen said that several risk factors still loom at large despite the positive developments. “The most obvious is inflation,” he said. “The July Fed meeting reduced immediate tightening concerns, but three policymakers still wanted higher rates.”
Hind Aldah is a business reporter based in Sharjah. In her spare time, you will find her playing classical guitar, painting amateur oil paintings, or crocheting the same old scarf that leads nowhere.