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Dubai Gold Prices Fall by AED21 After Last Week’s Record Spike
Profit-taking triggers correction after recent record surge in gold prices in Dubai.
- Publish date: since a day Reading time: 1 min read
Gold prices in Dubai retreated sharply after hitting record highs last week, with 24-karat gold falling by Dh21.25 per gram as traders booked profits following a strong year-end rally.
As of Tuesday morning, 24K gold was priced at around Dh525 per gram, down from its all-time high of Dh546.25 recorded on December 27. 22-karat gold dropped to about Dh486 per gram, while 21K and 18K gold were trading at approximately Dh470 and Dh403 per gram, respectively.
The decline comes after a rapid surge in prices during the final weeks of December, driven by strong safe-haven demand, expectations of interest-rate cuts in 2026, and global economic uncertainty. Market analysts describe the latest move as profit-taking rather than a trend reversal.
Despite the pullback, gold prices remain significantly higher than earlier this month, and traders expect continued volatility in the short term as global markets react to monetary policy signals and geopolitical developments in the new year.