UAE Gold Prices Fall on September 28

Gold prices in the UAE today, Monday, September 28, 2026, experienced a relative decline across all denominations compared to yesterday, influenced by a global drop of over 1% driven by rising oil prices. This increase in oil prices has heightened inflation fears and raised expectations of another US interest rate hike. The price of 24-karat gold per gram was approximately 495.1 AED (134.9 USD), 22-karat at 453.9 AED (123.7 USD), 21-karat at 433.2 AED (118.1 USD), and 18-karat at 371.3 AED (101.2 USD). The price of an ounce of gold reached 15,399.8 AED (4,196.1 USD), while a one-kilogram gold bar was valued at 498,580.8 AED (135,853.1 USD). Globally, the spot gold price dropped by 1.5%, reaching $4,223.95 per ounce, amid expectations of a 66% chance of the US raising interest rates in October. This potential increase is expected to reduce gold's appeal as an inflation hedge due to higher holding costs for yielding assets.

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