UAE Gold Prices Hold Steady as Global Spot Closes at $4,363 Despite 1.5% Weekly Loss
Gold prices held steady across retail markets in the United Arab Emirates on Sunday, tracking calm weekend trading. The local stability follows a late-week rebound in international bullion prices, even as global gold logged an overall weekly decline of approximately 1.5% amid persistent macroeconomic headwinds.
UAE Domestic Retail Prices
Retail benchmark prices across key purities in the UAE market:
Gold Unit / KaratPrice (AED)
24-Karat (per gram)AED 524.00
21-Karat (per gram)AED 465.25
18-Karat (per gram)AED 398.75
Gold OunceAED 16,298.25
Global Market Dynamics & Rate Hike Expectations
International markets saw bullion recover part of its recent losses into the weekend close, despite robust U.S. inflation readings that heightened expectations for monetary tightening by the Federal Reserve:
Spot Gold: Advanced 1.1% to settle at $4,363.01 per ounce by the close of trading.
U.S. Futures: U.S. gold futures settled virtually flat at $4,408.90 per ounce.
Weekly Performance: Despite Friday’s late session gains, the precious metal finished the week down by approximately 1.5%, reflecting ongoing pressure from expectations that the U.S. Federal Reserve will raise benchmark interest rates during its upcoming policy meeting.