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Dubai gold prices steady as 24K trades below Dh500 per gram
The precious metal was relatively stable all throughout the last week, trading below the Dh500 mark except on Wednesday, though it quickly stabilised
- PUBLISHED: Mon 27 Jul 2026, 9:40 AM
Gold prices in Dubai were largely steady on Monday as investors looked ahead to next week's US Federal Reserve policy meeting for clues on the interest rate outlook.
The 24K gold price was trading at Dh492.75 per gram, the same price one month earlier. Among the other variants of the precious metal, 22K, 21K, 18K, and 14K were trading at Dh456.25, Dh437.50, Dh375 and Dh292.50 per gram, respectively.
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Globally, spot gold was trading at $4,093.5 an ounce, up 0.01 per cent. Silver was trading at $59.4 an ounce, down 0.13 per cent.
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The precious metal was relatively stable all throughout the last week, trading below the Dh500 mark except Wednesday, though it quickly stabilised.
On a technical basis, analysts say gold retains a cautious bearish intraday after falling near the 200-period Exponential Moving Average on the 4-hour chart.
Vijay Valecha, CIO of Century Financial in UAE, said that the metal has erased much of its earlier weekly gains as escalating tensions push energy prices up, further strengthening inflation concerns and expectations of tighter US monetary policy.
“Despite the pullback, gold continues to attract buyers around the psychological $4,000 level, helping limit deeper losses. Investors now await next week’s FOMC meeting for further direction on rates,” Valecha said.
Brent crude surged above $100 per barrel for the first time since early June as the US-Iran conflict intensified.
“Higher energy prices, combined with signs of a resilient US labour market, have strengthened expectations that the Federal Reserve could raise rates this year. Markets are pricing around an 82 per cent probability of a September rate hike. Rising Treasury yields and a firmer US dollar remain key headwinds for non-yielding gold,” he added.
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.