Dubai: Gold rates drops from record level, 22k now costs Dh403.50 a gram

Dubai: Gold prices in Dubai dropped by Thursday evening, with 22-karat gold staying above Dh400 per gram for the fifth straight day. It opened at Dh407.25 per gram, and later dipped to Dh403.50. The price of 24-karat gold touched Dh435.75 per gram.

(Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.) Meanwhile, the Indian gold rate for 24-carat gold is approximately ₹11,051 per gram, and the rate for 22-carat gold is about ₹10,130 per gram on Thursday. 

Gold eased 0.5% to about $3,623 an ounce, pulling back from this week’s peak. Prices had risen earlier after US producer prices unexpectedly fell for the first time in four months, bolstering bets on a Federal Reserve rate cut next week.

Markets now see a quarter-point cut at the September 16–17 meeting as certain, with more likely by year-end. Lower rates tend to support bullion, which has surged nearly 40% this year on central bank demand, geopolitical risks, and ETF inflows.

Analysts say the rally shows signs of fatigue, but long-term drivers remain intact.