UAE Gold Prices Slightly Drop
Gold prices in the UAE experienced a slight decline at the start of trading on Sunday, October 18, 2026, compared to last week’s closing prices. This comes amid a global decline in gold prices driven by increasing expectations that the U.S. Federal Reserve will raise interest rates later this year due to persistently high inflation data. The price of 24-karat gold per gram reached 491.5 dirhams ($133.93), 22-karat at 450.57 dirhams ($122.7), 21-karat at 430.09 dirhams ($117.2), and 18-karat at 368.65 dirhams ($100.45). Meanwhile, the price of an ounce of gold in the UAE was 15,288.4 dirhams ($4,165.7), and a 1-kilogram gold bar was approximately 494,974.6 dirhams ($134,870.5). By the end of the week, gold prices had decreased by 0.1% in spot transactions, with weekly losses deepening to around 0.7%. In contrast, U.S. gold futures contracts increased by 0.3%, alongside declines in other precious metals like silver and palladium.
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