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UAE gold prices steady despite renewed Iran attacks
On late Monday afternoon, residents across the country were startled after warning alerts sounded on their phones
- PUBLISHED: Tue 5 May 2026, 9:59 AM
[Editor's Note: Follow the Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]
Gold prices in the UAE remained steady on Tuesday morning despite Monday's fresh missile attacks from Iran.
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The 24K gold was priced at Dh546.25, losing only 25 fils on Monday at the market close. Similarly, 22K, 21K, 18K and 14K gold variants also remained steady on Tuesday morning, gaining at most Dh1, at Dh505.75, Dh485.00, Dh415.50 and Dh324.25 per gram, respectively.
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Spot gold was trading at $4,538.51 (Dh16,666.09) per ounce, while silver also slightly dropped to $75.2 (Dh276.24) per ounce.
On late Monday afternoon, residents across the country were startled after warning alerts sounded on their phones. The UAE confirmed that the country’s defence systems warded off 12 ballistic missiles, 3 cruise missiles, and 4 UAVs (drones).
Financial analysts said that both precious metals are under pressure, with gold prices marking its second consecutive weekly drop.
“Gold prices declined 0.18 per cent on Friday, marking a second consecutive weekly loss with a 2.04 per cent drop for the week. Silver showed relative resilience, rising 2.18 per cent on Friday, though it still closed the week down 0.45 per cent,” Vijay Valecha, Chief Investment Officer of Century Financial, said.
“Elevated interest rate expectations continue to weigh on non-yielding assets like gold and silver,” 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.