Gold prices in the UAE dropped slightly as global markets reacted to renewed optimism over trade talks between the United States and China. In Dubai, the price of 22K gold fell to Dh369.75 per gram, down from last week’s highs of Dh374–Dh376.
International gold prices also slipped by nearly 2% over the past two days, with current rates around $3,330 per ounce, as strong US economic data and trade developments made investors less dependent on gold as a safe haven.
Retailers in Dubai say prices could drop another Dh2 to Dh3 per gram if global rates decline further. Many UAE shoppers are now waiting for the price to reach Dh360 per gram before making purchases.
Despite the drop, experts believe any fall in prices may be short-lived. Central banks, especially in China, are still buying gold, and global demand remains steady.
Analysts predict gold could average $3,063 per ounce in 2025, and possibly rise again to $3,350 by 2026.
