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

Dubai: 22-karat gold at Dh411.25 per gram, 24-karat at Dh444, after Dh3 rise pre-weekend

Last updated: September 22, 2025 | 08:25

1 MIN READ

Gold rose for a fifth straight week after the US Federal Reserve cut interest rates for the first time this year.

AFP

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.

Also Read: Dubai: Gold prices up Dh37 in 4 weeks; All eyes on US, UAE rate cut this week

'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.

Justin VargheseYour Money Editor

Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence. Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.