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.

Size: 120%Text Size

Notice: This Is an AI-Generated Summary

Display The Full Article