UAE Gold Prices Fall Slightly on October 2

Gold prices in the UAE on Friday, October 2, 2026, show relative stability following a global decline for the second consecutive week, driven by the rise of the US dollar and US Treasury bond yields. The price per gram for 24-karat gold is approximately 494.1 AED (134.6 USD), for 22-karat around 452.9 AED (123.4 USD), for 21-karat about 432.3 AED (117.8 USD), and for 18-karat roughly 370.6 AED (100.9 USD). The price for an ounce of gold reaches 15,367.7 AED (4,187.4 USD), and a 1-kilogram gold bar costs around 497,541.2 AED (135,569.8 USD). Globally, prices have fallen to 4,154.78 USD per ounce, with forecasts indicating a total decline of over 3% during the week. Investors are currently awaiting US employment data to determine the direction of monetary policy. It is worth noting that expectations for interest rate hikes are fluctuating, with only a 25% chance of a rate increase in October and a 79% likelihood in December, as rising interest rates reduce the attractiveness of gold, which does not generate yields.

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