UAE Gold Prices Drop by up to AED 20.50 per Gram as Demand Rises

UAE gold prices declined by between AED 12.25 and AED 20.50 per gram across different purities at the end of last week, marking the steepest weekly price decrease in nearly four months according to indicators in Dubai and Sharjah. Retailers reported an immediate surge in local demand for jewellery gifts and investment bullion bars. The strongest consumer interest has focused on 18-karat jewellery alongside 20-gram and 50-gram bullion bars.

Published October 26, 2026 Source: Emirates 24|7

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According to price indicators announced in Dubai and Sharjah and reported by Emirates 24|7, gold prices in the UAE fell by between AED 12.25 and AED 20.50 per gram across various carats at the end of last week compared with the preceding week. Retailers stated that this represented the largest weekly price contraction in almost four months.

The price of 24-karat gold declined by AED 20.50 to reach AED 481.50 per gram, while 22-karat gold dropped by AED 18.75 to AED 446.00 per gram. In addition, 21-karat gold fell by AED 18.25 to AED 427.50 per gram, 18-karat gold dropped by AED 15.50 to AED 366.50 per gram, and 14-karat gold retreated by AED 12.25 to AED 285.75 per gram.

Retailers observed that the sharp reduction in prices spurred buying activity in local retail markets for both jewellery items and bullion. Trader Ricky Dhanak stated that local markets witnessed a notable rise in purchases of gold bars and jewellery gifts, noting expectations that demand would remain firm if prices stay near current trading ranges.

Trader Manji Balik reported that the price drops stimulated acquisitions of jewellery gifts of multiple carats and bullion across diverse weights, adding that several traders had anticipated lower prices before increasing orders. Trader Raj Bahi indicated that the influx of buyers represented one of the strongest surges in recent weeks, with 18-karat jewellery accounting for the largest share of purchases and bullion demand concentrating around 20-gram and 50-gram bars.