Dubai gold prices slipped slightly on Tuesday, August 18, as international bullion prices remained broadly stable after a recent pullback.
- 24K gold: Dh529.50 per gram, down from Dh530.75.
- 22K gold: Dh490.25 per gram.
- 21K gold: Dh470 per gram.
- 18K gold: Dh402.75 per gram.
- Global spot gold: about $4,392.19 per ounce, up 0.31%.
- Silver: about $65.14 per ounce, up 0.92%.
The Dubai decline comes as global gold consolidates following Tuesday’s sharper fall. Reuters reported that gold dropped about 1.1% to $4,364.90 an ounce on August 18 as surging global bond yields and higher energy prices reduced demand for the non-yielding metal.
What it means for buyers: The modest Dubai price decline looks more like a short-term correction than a major trend reversal. Analysts cited by Khaleej Times characterize the recent pullback as profit-taking while the broader bullish outlook remains intact.
Investor watch: U.S. Treasury yields, oil prices, geopolitical tensions and upcoming Federal Reserve signals will remain key drivers for Dubai gold prices in the near term.
