Dubai – The price of 22-karat gold in Dubai remained unchanged at Dh358.25 per gram on Tuesday, as global bullion rates held steady near the $3,200 per ounce level. The slight uptick of Dh1 from the previous day keeps the local market in a tight price band, driven largely by a softening US dollar and ongoing trade-related uncertainties.
Although the price remains below the record high of Dh361.25 per gram—which stunned UAE shoppers earlier this month—it continues to hover at historically elevated levels. Jewellery retailers and industry analysts say that while some consumers are holding off on purchases, others are using the minor dip as an opportunity to buy.
“There is nothing to suggest that gold prices are going to retreat drastically, even with Trump’s tariffs now on a 90-day pause,” said one Dubai-based jewellery retailer. “The dollar is still under pressure, and that typically means gold continues to gain.”
A weaker dollar has traditionally provided upward momentum for gold, making the metal more attractive to holders of other currencies. The current market sentiment remains cautious, however, as traders assess the impact of global economic tensions, particularly the ongoing tariff battles between the United States and China.
Industry experts warn that any fresh escalation—including retaliatory trade measures—could spark new rounds of market volatility. “A further drop in the dollar’s value could result in an outsized reaction in gold prices,” noted a senior commodities analyst. “We’re in uncharted territory, and the market is still testing the upper limit of this surge.”
Despite the uncertainty, analysts agree that it is too early to predict the next major move in prices. With global markets jittery and geopolitical pressures mounting, traders are watching the dollar index and US inflation data closely for signs of the next shift.
For now, UAE shoppers are advised to stay informed and act swiftly if prices fluctuate further. As the gold market proves resilient amid global economic noise, the coming days may bring fresh opportunities—or fresh surprises.
