Will Dh400 price level now become a new norm for Dubai gold buyers?

Dubai: If you’re a regular gold shopper in Dubai, this question may already be on your mind: Is Dh400 per gram for 22K gold just around the corner?

Over the weekend, Dubai’s gold rate for 22K hit an all-time high of Dh383.5 per gram, breaking past the previous peak of Dh381.75. For 24K, it touched Dh414 per gram. And while prices usually stay flat across the UAE from Friday evening through Sunday, everyone—from retailers to investors—is now bracing for Monday’s next move.

The reason? Escalating geopolitical tension between Israel and Iran. Gold prices globally surged after Israel launched a series of airstrikes on Iran’s military and nuclear facilities. Iran retaliated with drone attacks, raising fears that the conflict could drag on—and spread wider across the region. Whenever there’s conflict, gold shines. That’s because it’s considered a safe-haven asset, and global investors start buying more of it during uncertain times.

For UAE buyers, that means gold jewellery is becoming more expensive by the day. (Check the latest Dubai gold rates here.)

Until recently, the Dh400-per-gram level for 22K seemed like a distant milestone—possibly achievable only by late 2025. But the latest price action is forcing bullion traders to revise their expectations. If geopolitical tensions persist, the Dh400 mark could be crossed well before summer ends.

According to industry sources, the local gold price hovered in the Dh365–Dh375 range for much of April and May, with market attention focused on US tariff threats. But as soon as news broke of the Israeli attacks, gold leapt past Dh382 and has held steady at historic highs since.

“This kind of price jump signals that the gold market is reacting not to technical factors but to real fear,” one Dubai-based jeweller said. “Retailers are adjusting prices faster now, expecting that Dh400 will not just be breached—but sustained.”

That’s the golden question.

Some UAE shoppers are choosing to delay purchases, hoping for a drop. But others—especially those buying for weddings or as long-term investment—are still going ahead, betting that today’s prices may look like a bargain if things escalate further.

Here’s how you can think about it:

Several factors are pushing gold higher:

Gold is currently trading around $60 below its all-time high of $3,500 per ounce, a record reached earlier this year. Some analysts even expect prices to touch $3,800 per ounce if the conflict escalates, which could push local UAE gold prices well past Dh400.

For now, volatility is here to stay—and UAE gold buyers are advised to keep a close eye on both headlines and price charts. Whether you buy now or later, gold’s role as a crisis hedge is once again shining bright.