Dubai gold holds ground after volatile week

Dubai: Gold prices in Dubai were largely unchanged on Friday morning, offering some stability to shoppers after a turbulent start to the year. At opening, 24 karat gold was priced at Dh536.50 per gram, while 22 karat stood at Dh496.75, unchanged from the previous session.

The flat start suggests retailers are holding rates as they assess both global trends and expected weekend footfall.

The steady opening suggests retailers are holding prices as they gauge both global direction and weekend footfall.

Although prices did not move in early trade, local rates remain near the top of this year’s range following a strong rally in the first week of 2026.

The market has been driven largely by international factors rather than local jewellery demand, with global investment flows and central bank buying keeping bullion supported. For UAE buyers, this means gold remains expensive compared to the start of the year, even as daily volatility has eased.

On global markets, gold was trading around $4,464.36 an ounce, up 0.27 per cent, as investors stayed cautious ahead of key economic data and continued to weigh inflation and interest rate expectations.

The modest rise follows a volatile week for bullion, with prices swinging on fund flows and geopolitical signals. The firmer international tone is helping to keep local prices supported.

For consumers in the UAE, steady prices may offer a brief window to buy without worrying about sudden spikes, but the high levels are still shaping buying behaviour.

Shoppers are increasingly focusing on lighter jewellery, everyday pieces and promotional offers, while postponing heavy bridal sets and large investment purchases. Retailers say customers are taking more time to compare prices and negotiate making charges.

For the trade, price stability is welcome after a choppy week, as sharp swings tend to delay decisions.

With the weekend approaching, jewellers in malls and traditional souqs are hoping that steady rates will encourage walk-in traffic, gifting purchases and tourist buying. However, big-ticket sales are expected to remain selective as many buyers wait for a potential pullback.