News · 24 August 2026
Dubai Gold Prices Hit Three-Month High as 24K Reaches Dh559.50
Dubai gold prices reached a three-month high on August 24, with 24K opening at Dh559.50 per gram.
Dubai gold prices reached a three-month high on August 24, with 24K opening at Dh559.50 per gram.
The price of 24K gold increased by Dh3.50 over the weekend as global bullion extended its August rally.
Gold buyers in Dubai also faced higher opening rates across the other main purity levels on Monday.
- 24K: Dh559.50 per gram
- 22K: Dh518 per gram
- 21K: Dh496.75 per gram
- 18K: Dh425.75 per gram
- 14K: Dh332 per gram
The rates were reported at the market opening on Monday, August 24, 2026. Dubai gold rates can change during the day as international bullion and currency markets move.
Global gold rises above $4,640
Global spot gold traded at $4,641.50 per ounce at 9.10am UAE time, up 0.58 per cent and at its highest level since mid-May, according to the latest Dubai gold market report.
Silver moved in the opposite direction during early trading, falling 0.37 per cent to $68.95 per ounce.
The international gold price had gained more than 5 per cent during the previous week, according to a Reuters market report.
Why gold prices are rising
A weaker US dollar has helped support gold. Bullion is priced internationally in dollars, so a softer US currency can make it more affordable for buyers using other currencies.
Investors are also watching developments in the US Treasury market. Changes in bond yields can affect the appeal of gold because the precious metal does not provide regular interest income.
Policy uncertainty and continuing geopolitical tensions have added to demand for assets viewed as defensive during periods of market stress.
Markets are now waiting for the July US Personal Consumption Expenditures price index and comments from Federal Reserve Chair Kevin Warsh. Both could influence expectations for US interest rates and the next move in gold.
What the increase means for Dubai shoppers
The higher rate increases the base metal cost of jewellery, coins and bars. For example, 10 grams of 24K gold had a metal value of Dh5,595 at Monday’s opening rate, before any additional charges.
A 10-gram purchase of 22K gold had a base value of Dh5,180. The final jewellery price may also include making charges, retailer fees and any applicable tax.
Making charges vary between designs and retailers. Buyers should ask for an invoice that separates the gold value from workmanship and other charges before completing a purchase.
Shoppers can also compare the displayed rate with the latest Dubai gold and foreign-exchange update.
Anyone planning a large purchase should confirm the rate at the time of payment because the price displayed in the morning may not remain unchanged throughout the day.
Could 24K gold reach Dh600?
The 24K rate would need to rise by another Dh40.50 per gram to reach Dh600 from Monday’s opening level.
Whether it reaches that mark will depend on global bullion prices, the US dollar, Treasury yields, interest-rate expectations and geopolitical developments.
Gold prices can move in either direction, and recent gains do not guarantee that the rally will continue. Buyers should base decisions on their budget and purpose rather than short-term price forecasts alone.