Time to buy? Dubai gold prices rise on dip-buying after 2% drop

Vijay Valecha, February 18, 2026, Khaleej Times

Gold investors are awaiting key Fed meeting data to gauge the US economy's strength, says Vijay Valecha, chief investment officer at Century Financial

Gold prices rose on Wednesday morning after trending downward earlier, as investors saw it as a good buying opportunity after the precious metal dropped two per cent globally.

At the opening of the markets on Wednesday, the 24K gold price was trading at Dh594.5 per ounce, while 22K, 21K, 18K and 14K were selling at Dh550.5, Dh528.0, Dh452.5 and Dh353.0 per gram, respectively.

The 24K gold price is still trading below Tuesday’s opening rate of Dh596.75 per gram.

Globally, spot gold was trading at $4,934.9 per ounce, up nearly one per cent. It had dropped below $4,900 earlier, prompting investors to buy as prices became attractive. The yellow metal fell more than two per cent on Tuesday.

Apparently, investors move in to buy when prices drop below $4,900 globally or Dh600 in Dubai.

Vijay Valecha, chief investment officer at Century Financial, said markets are awaiting key data to gauge the US economy's strength.

“Wednesday brings the FOMC minutes, which should give more clarity on the US Federal Reserve’s stance. It must be noted that the US jobs data for 2025 was revised down by 1,029,000, the largest annual revision in over 20 years. This suggests the labour market was weaker than previously thought, strengthening the case for rate cuts. Markets are now pricing in three cuts this year, which could weigh on the dollar,” said Valecha.

Looking at volatility, gold seems to be experiencing spillover effects from silver in the near term. “Looking ahead, however, silver may have passed its most brutal phase of selling, as indicated by the one-week implied volatility. The one-week implied volatility is at 66.68, while the lower end of the Bollinger Band is at 57.40, supporting the rationale for a short-term bounce,” he said, quoting Bloomberg data.

Source

Khaleej Times