Dubai 22K Gold Falls to Dh450.50 per Gram as Bullion Weakens

Dubai’s morning gold rates eased on October 28 as international prices came under pressure ahead of the US Federal Reserve’s policy announcement.

Dubai’s 22-karat gold price stood at Dh450.50 per gram on the morning of October 28, while 24-karat gold was priced at Dh486.50, according to the day’s published UAE retail rates. The softer prices offered jewellery buyers a lower starting rate, although the final bill depends on the item, its weight and the jeweller’s additional charges.

The movement in Dubai followed a weaker international bullion market. Spot gold fell 0.7% to $4,030.20 an ounce by 6.02am GMT on Wednesday, according to Reuters, as investors assessed rising energy costs and the outlook for US interest rates.

For UAE consumers, the immediate question is whether the decline will continue. Gold prices remain sensitive to economic data, inflation expectations and central-bank decisions, so a lower morning rate does not guarantee a further reduction later in the day.

Dubai gold prices on October 28

The published morning rates showed different prices according to gold purity.

Source: Gulf News retail-rate report, updated at 10.23am on October 28, 2026. These are time-specific reported rates, not guaranteed live prices.

The distinction between karats matters when comparing jewellery. Twenty-four-karat gold has a higher gold content, while 22-karat gold is commonly used for jewellery and contains approximately 91.7% gold.

A lower rate per gram can reduce the metal component of a purchase, particularly for heavier necklaces, bangles and bridal sets. However, buyers should compare the complete quoted price rather than relying on the headline rate alone.

Why international gold prices are under pressure

The US Federal Reserve’s policy decision was a key focus for bullion traders on October 28. Markets were looking for signals about borrowing costs and the likely direction of monetary policy in the coming months.

Reuters reported that rising oil prices were adding to inflation concerns. Higher energy costs can make it harder for central banks to lower interest rates, increasing the possibility that borrowing costs remain elevated for longer.

That outlook can weigh on gold because bullion does not pay interest. When investors can earn more from interest-bearing assets, holding gold may become comparatively less attractive.

The dollar and US Treasury yields are also important variables. A stronger US dollar can make gold more expensive for buyers using other currencies, while higher yields can increase the opportunity cost of holding the metal.

These factors do not determine prices in a straight line. Gold can recover when investors seek a safe-haven asset or when expectations about future interest rates change. The direction after the Fed announcement therefore remained uncertain.

What UAE jewellery buyers should know

A lower quoted gold rate is only one part of the cost of buying jewellery in Dubai.

The final price generally reflects the weight of the gold, its purity, the applicable per-gram rate, the making charge and applicable VAT. Making charges can vary between retailers and designs, so two pieces with the same gold weight may have different final prices.

Before paying, buyers should:

• Check the current rate: Confirm the per-gram price for the required karat directly with the retailer.

• Compare making charges: Ask for a breakdown instead of comparing only the advertised gold rate.

• Check the weight and purity: Make sure the invoice matches the jewellery being purchased.

• Ask for the full bill: Confirm the treatment of making charges and applicable VAT before completing the transaction.

Consumers should also remember that a jewellery purchase is not priced in the same way as a simple investment in bullion. Design, craftsmanship and retailer charges contribute to the amount paid, and those costs may not be recovered when the jewellery is resold.

Will Dubai gold prices fall further?

Further declines are possible, but they cannot be confirmed from a single day’s movement.

The next direction depends partly on how the US Federal Reserve communicates its interest-rate outlook and how investors interpret inflation data. Reuters also reported that market participants were watching US Personal Consumption Expenditures inflation data due on October 29 for additional clues about price pressures.

A more restrictive policy outlook could weigh on bullion, while a shift towards easier financial conditions could support a recovery. Changes in oil prices, the dollar and investor demand may also affect the market.

For shoppers in Dubai and elsewhere in the UAE, the practical approach is to check the latest local rate before visiting a jewellery shop and compare the final price across retailers. The October 28 morning figures

What is the 22K gold price in Dubai on October 28, 2026?

The reported morning rate was Dh450.50 per gram, according to the Gulf News update published at 10.23am UAE time. Gold prices can change during the day, so buyers should verify the latest rate before purchasing.

What was the 24K gold price in Dubai?

The reported rate was Dh486.50 per gram in the same morning update.

Why are gold prices falling?

International gold prices were under pressure from inflation concerns linked to higher energy costs and uncertainty surrounding US interest rates. These factors can influence investor demand for bullion.

Will gold prices fall further in the UAE?

Further declines are possible, but not guaranteed. The Federal Reserve’s policy signals, inflation data, oil prices and currency movements can all affect the direction of gold.

Does the Dubai gold rate include making charges?

No. The quoted per-gram rate represents the gold value used as the pricing reference. Jewellery making charges and applicable VAT can increase the final amount payable.

Is 22K gold suitable for jewellery?

Yes. Twenty-two-karat gold contains approximately 91.7% gold and is commonly used for jewellery. Its suitability depends on the design, durability requirements and intended use.

Is the gold price the same across Dubai and Abu Dhabi?

The UAE’s standard retail reference rate is generally used across emirates. However, the making charges, designs, offers and final prices can vary by retailer.

What should buyers check before purchasing gold in Dubai?

Check the current rate for the correct karat, verify the item’s weight and purity, compare making charges and request a detailed invoice showing the final price and applicable taxes.