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Monday, July 27, 2026
Gold prices in Dubai show little change as 24K remains below Dh500 mark
By Vijay Valecha in 'Century in News'
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Vijay Valecha, Mon, July 27, 2026 Dubai Standard
The precious metal remained largely stable throughout the previous week, trading below the Dh500-per-gram level on most days. It briefly crossed the mark on Wednesday before quickly settling back.
Gold prices in Dubai remained largely unchanged on Monday as investors awaited next week’s US Federal Reserve policy meeting for further indications on the future path of interest rates.
The 24K gold rate stood at Dh492.75 per gram, unchanged from its level a month earlier. Other gold categories were also trading steadily, with 22K at Dh456.25 per gram, 21K at Dh437.50, 18K at Dh375 and 14K at Dh292.50 per gram.
In international markets, spot gold was trading at $4,093.50 an ounce, edging up 0.01 per cent. Silver prices stood at $59.40 an ounce, down 0.13 per cent.
The precious metal remained relatively stable throughout the previous week, trading below the Dh500-per-gram level on all days except Wednesday, when it briefly moved above the mark before quickly settling back.
Vijay Valecha, CIO of Century Financial in the UAE, said gold has given up much of its earlier weekly gains as rising geopolitical tensions pushed energy prices higher, adding to inflation concerns and expectations of tighter US monetary policy.
“Despite the pullback, gold continues to attract buyers around the psychological $4,000 level, helping limit deeper losses. Investors now await next week’s FOMC meeting for further direction on rates,” Valecha said.
Brent crude prices climbed above $100 a barrel for the first time since early June as the US-Iran conflict escalated, adding pressure to global markets.
“Higher energy prices, combined with signs of a resilient US labour market, have strengthened expectations that the Federal Reserve could raise rates this year. Markets are pricing in around an 82 per cent probability of a September rate hike. Rising Treasury yields and a stronger US dollar remain key challenges for non-yielding gold,” he added.
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