Gold Prices in Dubai Drop Slightly After Reaching Dh400
Dubai gold cools off after Monday’s high — here’s what’s influencing the global drop.
- Publish date: Tuesday، 29 April 2025
Gold prices in Dubai eased on Tuesday morning after a brief surge that saw 24K gold hit the Dh400 mark the day before, according to the Dubai Jewellery Group.
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As of early trade, 24K gold was priced at Dh399 per gram, showing a Dh1 dip from Monday’s close. Meanwhile, other popular variants followed suit — 22K fell to Dh369.5, 21K dropped to Dh354.25, and 18K slid to Dh303.75 per gram.
On the global scale, gold was trading at $3,311.35 an ounce, down 0.74%, even dipping below the psychological $3,300 mark at one point.
So what’s behind this slight slide in prices?
According to Rania Gule, senior market analyst at XS.com, the dip is a reflection of broader investor sentiment linked to international trade signals — particularly between the US and China.
“Growing optimism about the improvement of these relations, following positive comments from US Agriculture Secretary Brooke Rollins about daily talks between the two countries regarding tariffs, led investors to reduce their positions in gold as a haven,” said Gule.
“This shift in sentiment has negatively impacted investor appetite for safe-haven assets like gold, causing it to drop below the $3,300 level, a noticeable decline after last week’s record highs.”
However, Gule noted that the yellow metal still holds long-term appeal.
“Gold remains a haven for investors during times of economic uncertainty... there are still concerning factors at the global economic level that could support gold's long-term stability,” she added.
With geopolitical signals constantly shifting, market watchers and gold buyers in the UAE will want to keep an eye on how global events continue to sway the shine of the precious metal.
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