Retail rates across Dubai and the Emirates remain near historical highs following sustained volatility in global spot markets.
DUBAI, Aug 7:Retail gold prices in the United Arab Emirates maintained their historic high trajectory on Friday, with 24-karat gold trading at AED 514 per gram across local jewelry markets.
The local bullion rate reflects broad stability across all purity grades. According to trading data from the Dubai Jewellery Group, 22-karat gold stood at AED 476 per gram, while 18-karat gold was quoted at AED 391 per gram. The steady pricing follows weeks of heightened fluctuation driven by international macroeconomic signals and central bank policies.
Jewelry retailers across Dubai’s Gold Souk and major shopping destinations noted consistent footfall despite the elevated prices. Buyers in the region continue to balance physical jewelry purchases with investment-grade bullion, such as bars and coins, as precious metals maintain their appeal as a hedge against market volatility.
Market analysts attribute the sustained local price levels to foreign exchange stability and firm spot gold prices on global exchanges. Because the UAE dirham is pegged to the US dollar, international price swings transfer directly to local retail boards, keeping regional rates tightly aligned with global market benchmarks.
Industry figures indicate that retail demand in the Gulf Cooperation Council (GCC) region remains resilient, supported by seasonal tourist inflow and persistent institutional interest in physical gold assets.
