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Thursday, August 20, 2026
Dubai gold price climbs to Dh541 per gram, up Dh17.5 in a week
By Vijay Valecha in 'Century in News'
Vijay Valecha, Thu, Aug 20, 2026 Khaleej Times
Global spot gold prices were up 0.09 per cent, trading at $4,491.47 per ounce, while silver gained 2.16 per cent and trading at $67.14 per ounce.Gold prices in Dubai continued to climb on Thursday morning, gaining Dh17.5 in one week, as US Treasury yields eased from multi-year highs and the dollar remained near multi-month lows.
The 24K gold price was trading at Dh541 per ounce, up Dh1 from Wednesday’s market close and up Dh15 from the close of the markets on Tuesday. Other variants of the yellow metal, 22K, 21K, 18K, and 14K, also gained at Dh501, Dh480.5, Dh411.75, and Dh321.25, respectively.
Global spot gold prices were up 0.09 per cent, trading at $4,491.47 per ounce, while silver gained 2.16 per cent and trading at $67.14 per ounce.
Analysts said that both gold and silver are attempting to recover after Tuesday’s sharp sell-off, with Treasury yields eased from multi-year highs and the dollar remained near multi-month lows.
The UAE dirham is pegged to the US dollar, so US Treasury yields directly influence UAE monetary policy.
“Softer US economic data has reduced expectations of further Fed tightening, with markets now focused on the July FOMC minutes and upcoming Jackson Hole remarks for further policy signal,” explained Vijay Valecha, CIO of Century Financial. “Lower yields and a weaker dollar would remain supportive for precious metals, although elevated oil prices and fiscal concerns could keep volatility high,” he added.
Overall, Valecha said that both metals retain a bullish medium-term bias, with easing yields, dollar weakness and expectations of less restrictive Fed policy providing the fundamental backdrop, while the $4,323 support in gold and $62.65 in silver remain crucial levels to hold.
On a technical level, gold remains constructive after holding the $4,323 support level, and is now attempting to regain momentum above $4,360, with $4,435 representing the next major resistance. “A break above this level could reinforce the bullish structure and open the way towards the $4,450–$4,500 zone,” the analyst said. “On the downside, $4,323 remains the key support, followed by $4,227. As long as gold holds above $4,323, the recent pullback can be viewed as a correction within the broader uptrend.”
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