Dubai gold price falls AED 28.75 a gram in a week as 24K slips to AED 468. Jewellers and buyers now take their cue from US rate bets.

The Dubai gold price fell AED 28.75 a gram for 24-karat gold between Monday and Saturday, ending the week at AED 468, according to Dubai Jewellery Group rates reported by local media. That is a drop of about 5.8% in six days, and it came as markets priced in a US interest-rate rise in December. For jewellers, bullion traders and buyers in the UAE, the message is that the local rate is now moving with US inflation data and Federal Reserve expectations, not with the festival calendar that drove prices up before Diwali.

The short version

• 24K gold in Dubai fell from AED 496.75 a gram on Monday 9 November to AED 468 on Saturday 14 November.
• 22K fell AED 26.50 to AED 433.50; 18K fell AED 21.75 to AED 356.25.
• Spot gold traded near US$3,899 an ounce on Friday, down from about US$4,110 on Monday, after US inflation data lifted bets on a December Fed rate rise.
• Buyers pay less than a week ago; retailers holding stock bought at higher prices see thinner margins.

What happened

Gulf News reported 24K gold at AED 496.75 a gram on Monday 9 November, just after Diwali, with 22K at AED 460 and 18K at AED 378. Spot gold was then about US$4,110 an ounce. Rates then slid through the week. Travels Dubai, citing Dubai Jewellery Group rates, said US consumer inflation came in above expectations, strengthening expectations of a December rate rise by the US Federal Reserve. By Saturday, 24K stood at AED 468 a gram, according to Travels Dubai and Pravasi News Daily, which also listed 21K at AED 415.50.

Dubai gold gave back about 5.8% between Monday and Saturday

Dubai retail gold rate, AED per gram, Mon 9 Nov vs Sat 14 Nov 2026

24K, Mon 9 Nov

AED 496.75

24K, Sat 14 Nov

AED 468.00

22K, Mon 9 Nov

AED 460.00

22K, Sat 14 Nov

AED 433.50

The fall was similar across all karats, at roughly 5.8% each, so lower-purity jewellery did not offer shelter. Spot gold rose 0.6% to about US$3,899 an ounce on Friday (about AED 14,318 at the dirham’s fixed rate of 3.6725 to the dollar, a Knock-On calculation), but was still on course for a weekly loss of more than 4%, having touched its lowest level in more than a year on Thursday, Travels Dubai reported.

Why it matters

Because the dirham is pegged to the US dollar, the Dubai gold price follows the global dollar price almost one for one, and the Central Bank of the UAE usually moves its base rate in step with the Fed. A December Fed rise would therefore hit gold twice for UAE holders: it raises the return on cash and deposits, which pay interest while gold does not, and it tends to support the dollar. For a market where gold is both a retail purchase and a savings product, rate expectations now matter more than seasonal demand.

Every karat lost about 5.8% in six days

Fall in Dubai retail gold rate, AED per gram, Mon 9 Nov to Sat 14 Nov 2026

24K (AED 496.75 → AED 468)

−AED 28.75

22K (AED 460 → AED 433.50)

−AED 26.50

18K (AED 378 → AED 356.25)

−AED 21.75

The knock-on effects

First order: cheaper jewellery for shoppers

At Saturday’s rate, the gold content of a 10-gram 22K piece costs about AED 4,335, AED 265 less than on Monday, before making charges and VAT (Knock-On calculation). A 100-gram 24K bar is about AED 2,875 cheaper. Shoppers planning purchases for the National Day holiday in early December are buying at lower rates than a week ago.

Second order: margin pressure on retailers

Jewellers who bought stock near the post-Diwali peak now sell into a lower reference rate. Those with hedged inventory or quick stock turnover are better placed; smaller shops that finance stock with short-term credit face both a lower selling price and borrowing costs that may stay high if the Fed raises rates.

Third order: savers compare gold with deposits

If UAE rates rise again in December, deposit returns improve while gold pays nothing. That could shift some household savings from bullion towards bank deposits, supporting banks that are already seeking more room to lend, as the FAB rights issue shows.

Who could benefit

• Jewellery buyers: lower per-gram rates ahead of December shopping and the wedding season.
• Banks: higher expected rates make deposits more attractive against gold.
• Bullion traders with buyers waiting: price dips often bring bargain-hunting retail demand.

Who may face pressure

• Retailers with high-cost stock: inventory bought near AED 497 a gram is worth less.
• Gold-loan lenders and borrowers: a lower gold price reduces the value of pledged collateral.
• Recent buyers: anyone who bought around Diwali now holds gold worth about 5.8% less.

What to watch

• Monday 16 November: the first Dubai rates of the new week, and whether 24K holds above AED 465.
• December: the US Federal Reserve’s rate decision and any matching move by the Central Bank of the UAE.
• 2–3 December: the National Day holiday and retail demand over the long weekend.
• More UAE market coverage: Knock-On UAE Markets.

Sources

• Gulf News, Dubai 24-karat gold hits Dh496.75 a gram after Diwali, 9 November 2026
• Travels Dubai, Dubai gold rates extend decline as 24K drops to Dh487.75, 11 November 2026
• Travels Dubai, Dubai gold loses Dh28 in a week as 24K rate slips below Dh470, 14 November 2026
• Pravasi News Daily, UAE gold rate today, 14 November 2026

This is analysis, not investment advice. Figures are as of 14 November 2026.