Dubai gold prices rise above Dh500 after US inflation data fuels rebound
By Dubai Currents Staff1 min read
Dubai gold prices rise
Published Mon 19 Oct 2026, 9:32 AM – In Dubai, gold prices moved higher on Monday morning, with the 24‑carat grade remaining above the Dh500‑per‑gram mark.
Data from the Dubai Jewellery Group showed the 24‑carat gold trading at Dh504.25 per gram, an increase of Dh2.25 from the weekend close of Dh502. The other karat values were quoted at Dh467 for 22‑carat, Dh447.75 for 21‑carat, Dh383.75 for 18‑carat and Dh299.25 for 14‑carat.
Global precious metals snapshot
On the international market, spot gold was priced at $4,178.4 per ounce, up 0.42 per cent as of 9:17am UAE time, while silver traded at $57.63 per ounce, rising 1.46 per cent.
Ole Hansen, Head of Commodity Strategy at Saxo Bank, said that precious metals had experienced another volatile week, with gold rebounding from selling pressure after the stronger‑than‑expected US inflation report.
He explained that the subsequent fall in Treasury yields and the US dollar gave support, leaving gold largely unchanged over the week.
Analyst outlook
He said, “Despite the correction from last year’s record highs, underlying investment demand remains resilient. Gold is showing tentative signs of breaking its recent downtrend. In our view, a sustained recovery above $4,235 would provide further evidence that the corrective phase is ending.”
He continued, “Whether this develops into a sustained bullish trend will depend partly on momentum‑driven traders, including hedge funds, shifting from net sellers to net buyers,” and explained that renewed speculative buying together with resilient ETF demand could supply the needed momentum.
He also noted that the precious metal has been influenced by falling yields stemming from worries about growth and equity valuations, which could create a more supportive environment.
He remarked, “Silver’s industrial exposure leaves it vulnerable to weaker risk sentiment, but its dual role as an industrial and precious metal could become an advantage if lower yields, a softer dollar and renewed investor interest outweigh growth concerns.”
