Gold at Dh369: Will prices fall further? What UAE buyers should know

Dubai: With 22‑karat gold in Dubai trading around Dh369 per gram — a dip from earlier Dh374–376 levels, and spot gold near $3,310 per ounce — modestly below recent highs around $3,372 — globally, should UAE buyers wait for a better deal? Here's what you should know:

Better-than-expected US economic data lifted the dollar, pushing gold down from recent peaks. Analysts see major support between $3,200 and $3,300 per ounce. For UAE buyers, this reflects as Dh369 per gram — the current range. (Check the latest gold prices here.)

Some traders expect gold prices to consolidate for now, but a move back above $3,500 (Dh390/g) is still on the table, especially with ongoing global uncertainties. Even if it dips to $3,000 (around Dh355/g), the long-term bullish outlook remains intact.

This is primarily because the broader trend remains strong: central bank purchases and rising investor demand through gold ETFs have driven gold up roughly 125% since October 2022. Over the past year alone, prices are up more than 50%.

Major banks expect gold to average about $3,063/oz in 2025, rising toward $3,350 in 2026. While some short-term forecasts suggest a 12–15% dip is possible, the medium-term outlook points upward due to ongoing geopolitical risks and strong buying interest.

When buying gold now, today’s price of Dh369 per gram is a reasonable level as further drops may not be substantial.

For long-term investors, this minor correction could be a smart entry point, especially if gold continues its upward momentum in the coming months. Whether you're looking to shop or invest, current prices offer a balance of affordability and upside potential.

Gold at Dh369 per gram in Dubai reflects a modest pullback — not a downturn. With strong support levels and demand from central banks and investors still high, the price is unlikely to crash.

For UAE residents looking to buy, today’s price offers a balanced opportunity before any potential uptrend resumes - atleast that's the case for now.