Dubai gold prices steady near record levels following sharp gains

Dubai: Gold prices in the UAE stayed high after hitting record levels earlier. On Tursday morning, 22-karat gold was at Dh432.00 per gram, while 24-karat stood at Dh466.75.

Just a week ago, gold hit new highs in Dubai when 24-karat touched Dh452.25 and 22-karat Dh418.75 per gram. Prices have since gained more than Dh14 in eight days.

(Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.) Meanwhile, the Indian gold rate for 24-karat gold was back up at ₹11,924 per gram, and the rate for 22-karat gold rose to ₹10,930 per gram Thursday morning. 

Globally, gold steadied after a five-day rally that pushed it to record highs, as the US government shutdown took effect and traders boosted bets on Federal Reserve rate cuts following weak economic data.

Bullion held near $3,860 an ounce — about $35 below Wednesday’s peak — with the suspension of federal operations threatening a blackout in key economic data the Fed relies on for policy decisions.

It has now gained for six straight weeks, driven by demand from investors seeking safe-haven assets amid global uncertainty.

For UAE consumers, the latest price movements mean gold remains both a cultural staple and a financial safe haven, with analysts expecting continued resilience in the months ahead.