;

© 2025, design with by 7awi Media Group

Gold Prices in Dubai Drop After Monday's Big Jump

After Monday’s Dh10+ surge, Dubai gold prices take a breather as global factors stir market volatility

  • Publish date: Tuesday، 03 June 2025
Gold Prices in Dubai Drop After Monday's Big Jump

After a wild start to the week, Dubai gold prices cooled down slightly on Tuesday morning.

Read More: The Gold Economy. Understanding Carats/Karats

The 24K gold rate, which surged by over Dh10 per gram on Monday, slipped by Dh1.5, settling at Dh405.25 per gram.

Here’s the lowdown on Tuesday's Dubai gold prices:

  • 24K: Dh405.25
  • 22K: Dh375.25
  • 21K: Dh359.75
  • 18K: Dh308.50

Globally, spot gold was trading at $3,361.67 an ounce, down by 0.35%—reflecting a broader cooling off after Monday’s rush fueled by global market jitters.

According to Dilin Wu, a research strategist at Pepperstone, gold has been stuck in a tug-of-war pattern since mid-April, with bears currently holding the upper hand.

“A series of developments — including shifting White House rhetoric on EU tariffs, resilient US data, changing market sentiment on Treasuries, and legal challenges to tariff legitimacy — have all contributed to the recent price swings... Gold remains range-bound between $3,170 and $3,430, with downward momentum still in control,” she said.

Looking ahead, Wu believes gold will continue to bounce between market highs and lows, with US economic data, Fed policies, and even China’s selling activity playing key roles in where it heads next.

Meanwhile, Inki Cho, financial markets strategist and consultant to Exness, pointed to Monday’s surge being driven by fresh trade drama.

“President Donald Trump announced plans to double tariffs on steel and aluminium imports to 50 per cent starting June 4... Markets responded cautiously, seeking shelter in traditional hedges like gold,” said Cho.

He added that accusations against China for violating a recent trade truce only added to the market’s nervous energy.

For now, if you missed Monday’s price spike, you’ve got a little breathing room—but with markets this jumpy, don’t blink.

Read More: Where To Buy Gold In Dubai and More...

Follow us on our Whatsapp channel for latest news
 

Related videos

Related articles