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Tuesday, February 17, 2026

Breather for buyers as Dubai gold prices fall, lose nearly Dh14 per gram in 6 days

By Vijay Valecha in 'Century in News'

Breather for buyers as Dubai gold prices fall,...

Vijay Valecha, February 17, 2026, Khaleej Times

Gold prices dropped further for the second consecutive day at marketing opening this week on Tuesday due to the strengthening of the US dollar and thin trading across Asia.

Data from the Dubai Jewellery Group showed the 24K gold price slipping to Dh596.75 per gram on Tuesday morning, down from Dh602.0 per gram at market close on Monday.

Similarly, 22K, 21K, 18K, and 14K gold prices also became cheaper for UAE shoppers, selling at Dh552.5, Dh529.75, Dh454.25 and Dh354.25 per gram, respectively.

The gold prices have dropped by nearly Dh14 per gram in the past six days, giving a breather to UAE shoppers who are planning purchases for weddings and other events.

The price correction revives interest among gold jewellery shoppers in the UAE, particularly in Dubai. Many investors also view the dip as a buying opportunity, adding physical and digital gold to their portfolios.

Spot gold was trading at $4,941.18 per ounce, down one per cent at 9.10am UAE time on Tuesday.

Vijay Valecha, chief investment officer at Century Financial, said that from a fundamental standpoint, the US CPI data on Friday offered limited relief.
“Headline CPI was helped by energy, while core inflation eased modestly due to softer shelter components. Still, underlying details were less comforting. Core goods inflation firmed, suggesting tariff effects may be filtering through, while non-housing services picked up on seasonal repricing. Markets have repriced rate expectations accordingly. Fed funds futures now imply roughly 62.1 basis points of cuts by year-end, or about two and a half quarter-point moves. A June cut is back in play, with easing potentially extending into the second half, thereby supporting the yellow metal,” said Valecha .

Additionally, regarding the recent choppy nature, he said that it must be noted that in times of extreme equity market stress, the precious metal sometimes falls along with shares because, as a liquid asset, it can be jettisoned to raise funds to cover losses elsewhere.

Source

Khaleej Times

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