Dubai gold rate dips from record high as prices eased slightly on Tuesday. The 22-karat gold price in Dubai stood at Dh406.25 per gram, after touching a peak of Dh408 just a day earlier. This marks the fourth day in a row that 22K gold has remained above Dh400 per gram.
The 24-karat gold rate in Dubai also moved down, falling nearly Dh2 to Dh438.75 per gram. Shoppers at the Dubai Gold Souq continue to feel the pressure of these high levels, even though prices have eased slightly from record highs.
Meanwhile, the Indian gold rate showed similar strength. On Tuesday, 24-carat gold was priced at around ₹11,030 per gram, while 22-carat stood at about ₹10,111 per gram.
Globally, gold steadied near $3,635 per ounce. Earlier in the week, bullion had crossed $3,674, reaching a fresh peak. The recent moves come as investors weigh U.S. economic data and look ahead to the Federal Reserve meeting next week. Traders widely expect the Fed to begin interest rate cuts, which could provide more support to gold prices.
So far this year, gold prices have surged almost 40%. The rally has been fueled by central bank purchases, investor demand, and ongoing global tensions. Political uncertainty in the U.S. and worries over trade disputes have also pushed buyers toward gold as a safe haven.
For UAE shoppers and investors, the Dubai gold rate dips from record high offers only limited relief. With 22K gold still above Dh400 per gram, affordability remains a challenge.
