Monday, September 28, 2026
Gold price in Dubai loses Dh11 as 24K slips to Dh505.5 per gram
تم إعداد هذا المنشور من قبل فيجاي فاليتشا
Vijay Valecha, Mon, Sept 28, 2026 Khaleej Times
Gold remains under pressure amid a strong recovery in the US dollar, which is now touching three-month highs on a hawkish Fed outlook and a global bond market sell-offThe gold price in Dubai fell Dh11 per gram on Monday morning, as 24K slipped to Dh505.5 per gram at the market opening.
The precious metal has lost Dh18.25 per gram over the past week, as prices remain under pressure amid a stronger dollar.
The other variants, 22K, 21K, 18K, and 14K, were trading at Dh468, Dh448.75, Dh384.75, and Dh300 per gram, respectively.
Globally, gold fell 2.01 per cent to Dh4,191.88 per ounce, while silver dropped by 3.51 per cent to $61.92 per ounce as of 9:10am UAE time.
Gold remains under pressure amid a strong recovery in the US dollar, which is now touching three-month highs on a hawkish Fed outlook and a global bond market sell-off, said Vijay Valecha, Chief Investment Officer of Century Financial.
“Energy costs and expectations of more Fed rate hikes have primarily dictated gold’s trajectory in recent weeks, with higher borrowing costs typically weighing on bullion,” he said, adding that it’s evident with how the metal has traded in a narrow range as traders repeatedly recalibrate the outlook for Fed policy.
“Despite near-term headwinds, many investors still bet it will grind higher as it rediscovers its traditional value as a portfolio hedge, with ETF demand remaining strong,” the analyst added.
“Technically, gold prices are respecting support around the $4261 level from an upward-sloping trendline connecting the lows of 17th July, 29th July, 3rd August, and 16th September. (Thursday)’s daily candle failed to close below the trendline, suggesting its strength and capping the downside for the bullion. Silver is seeing a similar trendline support, with (Friday)’s price action getting support near $63.48, suggesting a market structure tilted towards the upside for both metals,” he said.
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