Dubai — The prices of gold in the UAE continued to be high on Monday with 22-karat at Dh411.25 a gram and 24-karat at Dh444 after rising by Dh3 prior to the weekend. The upsurge is testing consumers' pockets but jewellers indicate that consumers are adjusting to the new levels, particularly for weddings and celebrations.
Globally, spot gold closed at $3,688.40 an ounce, down some $20 on last week's record. The metal has now appreciated for five weeks in a row, boosted by the U.S. Federal Reserve's 25-basis-point rate reduction, its first this year, and expectations of further rate cuts.
Prices have gone up almost 40% in 2025, fueled by safe-haven buying during geopolitical tensions, U.S. tariffs, and robust central bank buying. In India, 24-karat gold hit ₹11,215 per gram, and 22-karat was at ₹10,280 on Monday.
