Gold prices to fall as Trump keeps tariffs on table: UAE shoppers, keep watch

Dubai: Gold prices dropped over 1 per cent globally after US President Donald Trump left the door open for more talks after imposing new trade tariffs on several countries. This looks like good news for UAE shoppers — you might finally get a break on 22K and 24K prices.

However, Trump’s renewed threat of 25% tariffs on markets including Japan, South Korea, and others. The White House has delayed implementing tariffs until August 1, giving affected countries a three-week window to finalize deals.

What this means for gold buyers

By Monday evening:

• 22K gold remained at Dh370 per gram

• 24K gold held just below Dh400 per gram

These stable rates offer a small but welcome reprieve in a season of fluctuating prices.

With global rates tumbling, Dubai shoppers can expect local prices to dip in the coming days. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.)

What should gold buyers do next?

Gold rocketed to record highs in April, fueled by global uncertainty. Central banks, especially China's, continued to accumulate gold, adding upward pressure on prices.

But with tariff uncertainty now fading temporarily, gold has pulled back—offering a window of opportunity for buyers and small investors in Dubai.

Tip for buyers? If you’ve been waiting to purchase, now may be a wise moment. Keep an eye on global rates as tariffs and trade developments evolve—your timing could mean the difference between paying Dh370 versus Dh380 for 22K gold.

As gold reacts to trade headlines, Dubai shoppers could benefit from modest price dips. Stay updated on global developments and be ready to act to make the most of this temporary lull.