Dubai gold prices slip as global rates hold steady

Vijay Valecha, Tue, Aug 18, 2026 Khaleej Times

Gold prices in Dubai eased on Tuesday morning as improving expectations for lower US yields, a softer dollar and resilient technical structure continuing to favour further an upside in gold.

The 24K gold price was trading at Dh529.50 per gram at the open of the markets on Tuesday, down from Dh530.75. The other variants of the yellow metal, 22K, 21K, 18K, and 14K, were trading slightly higher at Dh490.25, Dh470, Dh402.75, and Dh314.25, respectively.

Globally spot gold prices remained almost unchanged from the day before, trading at $4,392.19 per ounce, up 0.31 per cent. Silver was trading at $65.14 per ounce, up 0.92 per cent.

Analysts say the recent pullback appears to be a healthy period of profit-taking rather than a reversal of the broader bullish trend.

Moreover, gold started off this week with a rebound after Thursday’s 1.3 per cent decline, mainly driven by weaker-than-expected US retail sales which reinforced expectations for a more accommodative Federal Reserve. Likewise, softer economic data has pushed Treasury yields lower and weighed on the dollar, strengthening the macro backdrop for non-yielding assets such as gold, the analyst explained.

“With US economic momentum showing signs of moderation, front-end yields could move lower while expectations for Fed easing remain supportive,” Vijay Valecha, CIO of Century Financial, said.

“A weaker dollar also provides an additional tailwind for bullion, keeping the path of least resistance higher. The recent divergence between gold and other macro drivers is therefore worth monitoring, but does not yet undermine the broader bullish setup.”

On the daily chart, gold is testing the $4,400 level, which Valecha said a sustained break above that number could trigger the next leg higher towards $4,450, followed by $4,500. “On the downside, $4,350 remains the key near-term support, with the broader bullish structure intact as long as prices hold above this area. Overall, improving expectations for lower US yields, a softer dollar and resilient technical structure continue to favour further upside in gold,” he added.

Silver, on the other hand, extended its recovery after breaking above the descending trendline, with the metal testing resistance at a sustained break above $66.40 potentially opening the way towards $68.00. Support remains at $64.30, with the broader bullish structure intact while prices hold above this level.

Khaleej Times