UAE gold prices stayed high on Wednesday after hitting record levels the day before. The 22-karat gold rate reached Dh431.50 per gram, while 24-karat rose to Dh465.75.
Just a week ago, gold hit new highs when 24-karat reached Dh452.25 and 22-karat Dh418.75 per gram. In only eight days, prices gained more than Dh13.
Globally, gold surged to a new peak of $3,875 per ounce on Wednesday. It has risen for six straight weeks as investors seek safe-haven assets amid ongoing global uncertainty.
In India, the 24-karat gold rate climbed back to ₹11,864 per gram, and 22-karat rose to ₹10,875. These movements reflect strong international demand.
The record high came as the US government faced a partial shutdown. Lawmakers failed to reach a funding agreement, which overshadowed optimism about potential Federal Reserve interest rate cuts. The shutdown may also delay key economic data that guides the Fed’s decisions.
For UAE consumers, the high gold prices underline the metal’s dual role as both a cultural staple and a financial safe haven. Analysts expect prices to remain resilient in the coming months, supporting continued investor interest.
