Gold Prices Edge Higher Across the UAE
Gold prices in the UAE moved higher on Monday, November 2, 2026, following a recovery in international bullion markets. The 24-karat gold rate reached Dh470.25 per gram, compared with Dh467 at the previous close. Meanwhile, 22-karat gold was priced at Dh435.50 per gram. The rates for 18-karat and 14-karat gold stood at Dh358 and Dh279.25 respectively. The increase came as global gold prices recovered from a sharp decline recorded during the previous trading session.
Global Bullion Recovers Towards $3,900
International spot gold gained around 0.72 per cent to reach approximately $3,913 an ounce during Monday morning trading in Dubai. The recovery followed a 3.7 per cent fall in the previous session, which pushed prices to their lowest level in around a year. October turned out to be the metal's weakest month since 2008. Some investors returned to the market to purchase gold at lower prices. However, the latest improvement has not yet erased the losses recorded during the previous month.
Oil Prices and Global Uncertainty Influence the Market
Lower oil prices provided some relief to gold markets by easing concerns about rising inflation. Investors are also monitoring developments in the Middle East and their possible impact on global energy supplies. At the same time, uncertainty surrounding financial markets and technology stocks has influenced investor decisions. Gold has faced pressure as some investors sold their holdings to cover losses in other investments. These factors have contributed to continued price movements in the precious metals market.
Market Volatility Remains in Focus
Despite Monday's recovery, analysts continue to watch several economic and geopolitical developments that could influence gold prices. Expectations surrounding US interest rates and movements in the dollar remain important factors for bullion. The upcoming US midterm elections are also attracting attention from global investors. For UAE consumers, changes in international gold prices can affect local retail rates. Buyers and jewellery businesses will therefore be watching market movements closely in the coming sessions.
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