Gold prices stay near record highs, stretching UAE buyers’ budgets

Dubai: Gold prices held high on Monday, with 22-karat at Dh411.25 per gram and 24-karat at Dh444, after a Dh3 rise before the weekend, pushing them further out of reach for many buyers.

Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.

Meanwhile, the Indian gold rate for 24-carat gold has also risen to ₹11,215 per gram, and the rate for 22-carat gold is about ₹10,280 per gram on Monday. 

'New normal' for UAE buyers

Despite record-high prices, UAE jewellers report that consumers are not fundamentally shifting away from gold purchases. Instead, they quickly adapt to new price levels as the "new normal," particularly for culturally significant occasions like weddings and festivals.

Globally, gold rose for a fifth straight week after the US Federal Reserve cut interest rates for the first time this year. Spot gold was trading at $3,688.40 an ounce on Monday morning, about $20 below last week’s record high.

The Fed’s 25-basis-point cut has lifted demand for the metal, which does not earn interest, while traders are still expecting nearly two more cuts this year. Prices have already surged 40% in 2025, supported by safe-haven demand from geopolitical tensions, US tariffs, and strong central-bank buying.