Dubai gold prices steady; is now a good time to buy?

Dubai: Gold prices in Dubai remain steady Monday (December 8) morning, with 24-carat gold trading at Dh 505.75 per gram, unchanged from yesterday night.

Similarly, 22-carat gold holds firm at Dh468.25 per gram. For buyers and sellers, it means a quiet day in the gold market with no pressure on prices to rise or fall.

Local prices reflect stability despite a slight dip in international gold futures to $4239.6 per ounce, down 0.08 per cent or 3.4 points today.

Across the border in Saudi Arabia, gold prices stayed flat through the night. 24-carat gold is priced at Dh518 per gram, exactly the same as late last night. The 22-carat variety also stayed firm at Dh476 per gram.

This stability is important for UAE consumers who often compare regional prices before buying. Gold retailers have maintained that when prices hold steady like this, it helps customers feel confident to make purchases without fear of unexpected hikes.

Global gold futures opened at $4228.1, ranging between $4224.5 and $4241.8, influenced by subdued trading volumes of 21,573 contracts against an average of 166,680.

Dubai's retail gold souk, a regional benchmark, mirrors this calm as investors await cues from US economic data and geopolitical tensions. Year-to-date, gold has climbed from a low of $2596.7, underscoring its safe-haven appeal.