Dubai: Gold rates stay high, 22k now costs Dh406.25 a gram

15/09/2025 04:39 AST

Gold prices in Dubai stayed high Monday morning, with 22-karat gold not looking to drop below Dh400 per gram anytime soon. It opened at Dh406.25 per gram, while the price of 24-karat gold touched Dh438.75 per gram.

(Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.) Meanwhile, the Indian gold rate for 24-carat gold is approximately ?11,116 per gram, and the rate for 22-carat gold is about ?10,190 per gram on Thursday.

Gold held near a record as traders geared up for an anticipated easing of the US Federal Reserve's monetary policy this week and looked for clues on further rate cuts this year.

Bullion traded near $3,640 an ounce, after gaining for four consecutive weeks. Markets now see a quarter-point cut at the September 16-17 meeting as certain, with more likely by year-end. Lower rates tend to support bullion, which has surged nearly 40% this year on central bank demand, geopolitical risks, and ETF inflows.

Lower yields reduce the opportunity cost for holding the metal, while a weaker dollar makes it more affordable. Whether the central bank will challenge these bets is a key question for investors this week.

Persistent uncertainty over geopolitics and Trump's tariff agenda, and concerted central bank buying have provided support.

Trump's unprecedented pressure on the Fed - including his attempt to oust Governor Lisa Cook - is the latest catalyst, which Goldman Sachs Group Inc. sees driving gold to near $5,000 an ounce.

Gulfnews