Dubai Gold Rate May Drop Below Dh300 in 2026: Citi Forecast

By Faizal

18 Jun 2025

Dubai Gold Rate May Drop Below Dh300 in 2026: Citi Forecast

Dubai – Global bank Citi has forecast a potential 20%+ drop in gold prices by mid-2026, suggesting the Dubai gold rate for 22K could fall below Dh300 per gram for the first time since 2024.

Currently, 22K gold in Dubai is priced at Dh378.5, while 24K stands at Dh408.75. Prices peaked at Dh383 in recent months, with market speculation pointing toward Dh400.

Citi expects global gold prices to drop to $2,800–$3,000 per ounce, citing reduced investment demand, a recovering US economy, and possible shifts in central bank buying trends.

“This could trigger heavy retail demand again,” said a UAE-based gold retailer.

However, some local experts, including Anil Dhanak of Kanz Jewels, remain bullish, forecasting $3,800 per ounce by end-2025.

Jewellery and investment gold demand in the UAE remains muted, with many buyers turning to digital gold options due to high per-gram costs.

If Citi’s forecast holds, shoppers may once again see Dubai gold prices return to shopper-friendly levels, reigniting market activity.

Written by

Faizal

Faizal is an experienced content creator and writer with a strong focus on business trends, economic developments, and emerging opportunities across the Gulf region. His work reflects a keen understanding of evolving markets, industry dynamics, and the factors shaping the region’s business landscape. With a research-driven approach, Faizal transforms complex market developments into clear, informative, and actionable insights for professionals, entrepreneurs, and business leaders. His content aims to provide valuable perspectives on key economic trends and developments influencing businesses across the Gulf.