DUBAI: Gold prices in Dubai fell further on Tuesday, September 29, taking the 24-karat rate below Dh500 per gram as the international bullion market remained under pressure.
At 12:45pm, 24K gold was priced at Dh497.25 per gram, while 22K gold stood at Dh460.50 per gram. The rates were down from Monday morning’s Dh505.50 for 24K and Dh468 for 22K.
For a buyer purchasing eight grams of 24K gold, Tuesday’s rate represented a difference of Dh66 compared with Monday morning’s price, before making charges and other costs.
Gold remains well below September peak
The latest decline has taken Dubai gold considerably below the levels recorded earlier this month.
The 24K rate reached Dh542 per gram on September 3. At Dh497.25 on September 29, it was Dh44.75 lower, equivalent to a decline of about 8.3%.
The 22K rate has followed a similar trajectory. It stood at Dh502 per gram on September 3 and had fallen to Dh460.50 by Tuesday.
The Dubai Gold & Jewellery Group’s historical rate data also shows the scale of the movement, with 24K at Dh497.25 on September 29 compared with Dh527.50 on September 19 and Dh542 on September 3.
International market weighs on Dubai prices
The weakness in Dubai follows a sharp move lower in international gold prices.
Spot gold fell to its lowest level in more than seven weeks on Monday before recovering modestly on Tuesday. Reuters reported that spot gold was up about 0.6% at around $4,140.10 an ounce on Tuesday after touching $4,110.55 in the previous session.
Higher US Treasury yields and expectations of another Federal Reserve interest-rate increase have been weighing on the precious metal. Gold does not pay interest, so higher rates can reduce its relative appeal compared with interest-bearing assets.
The Federal Reserve raised its target federal funds rate by 25 basis points at its September 15-16 meeting, taking the target range to 3.75%-4%.
What UAE buyers should know
Lower quoted gold rates do not represent the final price of a jewellery purchase.
Customers buying jewellery in Dubai should also account for making charges and other applicable costs, which can vary between products and retailers. The quoted rate is therefore a useful reference for the gold component but not necessarily the final amount payable at the counter.
For buyers comparing prices, the most relevant factors include the purity of the gold, the per-gram rate at the time of purchase, making charges and the weight of the item.
Gold prices can also change during the day as international bullion markets move.
For now, Dubai’s 24K rate remains below the Dh500-per-gram threshold, after starting September at Dh522 and reaching Dh542 earlier in the month.
What is the Dubai gold price on September 29, 2026?
At 12:45pm on September 29, 24K gold was priced at Dh497.25 per gram, while 22K gold was Dh460.50 per gram.
Why has gold fallen in Dubai?
The decline follows weakness in international gold prices. Higher US Treasury yields and expectations of further Federal Reserve rate increases have put pressure on bullion.
How much has 24K gold fallen from its September high?
24K gold reached Dh542 per gram on September 3. At Dh497.25 on September 29, it was Dh44.75 lower per gram.
What was the 22K gold rate in Dubai on September 29?
The 22K rate was Dh460.50 per gram at 12:45pm on September 29.
Does the quoted gold rate equal the final jewellery price?
No. The final jewellery bill can include making charges and other applicable costs in addition to the quoted gold rate.
Did the Federal Reserve recently raise interest rates?
Yes. On September 16, the Federal Reserve raised its federal funds target range by 25 basis points to 3.75%-4%.
Can Dubai gold prices change during the day?
Yes. Gold prices can move as international bullion markets change, so buyers should check the current rate when making a purchase.
