Gold Prices in the UAE Edge Lower on August 2, Amidst Strong Global Monthly Gains

Sunday 2 August 2026 08:14

Gold prices in the United Arab Emirates experienced a slight decline across all carats on Sunday, August 2, 2026, compared to the closing levels of the previous week's trading sessions.

Globally, gold prices concluded July with their largest monthly gains since February. This upward momentum was primarily supported by scaled-back expectations for U.S. interest rate hikes following the release of weaker-than-expected inflation data.

Meanwhile, gold speculators on the COMEX exchange reduced their net long positions by 3,258 contracts, bringing the total to 120,328 contracts for the current week.

Gold Prices in the UAE Today

According to the latest updates from the "gold-price" website, which tracks the precious metal's rates across Arab countries, the gold prices in the UAE today are as follows:

24-Carat Gold: Reached 477.2 AED ($130.04) per gram.

22-Carat Gold: Recorded 437.47 AED ($119.20) per gram.

21-Carat Gold: Stood at 417.6 AED ($113.78) per gram.

18-Carat Gold: Priced at 357.9 AED ($97.53) per gram.

Gold Ounce: Reached approximately 14,843.8 AED ($4,044.6).

1-Kilogram Gold Bullion: Stood at 480,580.9 AED ($130,948.5).