Dubai Gold prices in Dubai opened higher on Monday, with buyers paying up to Dh5 more per gram compared with the previous trading session as international bullion prices gained strength.
The 24-karat gold rate rose to Dh493.50 per gram, up from Dh488.50 on Sunday. Meanwhile, 22-karat gold increased to Dh457 per gram, compared with Dh452.25 a day earlier.The latest increase has pushed Dubai gold prices back toward the levels seen earlier in July, although they remain below this month’s peak.
Prices Recover After Mid-July Decline
Dubai’s gold market experienced sharp swings throughout July. The 24K gold rate reached a monthly high of Dh503 per gram on July 4 and July 5 before falling to Dh481.50 on July 16. During the same period, 22K gold dropped to Dh446 per gram.Prices later recovered, with 24K gold climbing to Dh500.75 on July 22 before easing again to Dh487.50. Monday’s increase to Dh493.50 indicates that the market has regained part of those earlier losses.
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Global Gold Rally Supports Dubai Market
The recovery in Dubai followed stronger international gold prices, with spot gold trading above $4,100 per ounce after gaining nearly 1.6% during the previous week.Market sentiment also improved after easing geopolitical concerns and renewed investor demand for safe-haven assets.
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What Buyers Should Watch
Gold traders are now watching upcoming economic data and central bank policy decisions, which could influence bullion prices over the coming days. If international gold continues its upward trend, Dubai gold prices may move closer to July’s record levels once again.
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