Dubai, May 8 2026: Gold prices in Dubai are going up on Friday morning. This makes local jewellery and investment rates close to their levels of the month. It happens after another increase in global gold markets. At 8:37 am, 24-karat gold costs Dh568.50 per gram. It was Dh565 on Thursday. 22-Karat gold goes up to Dh526.50 from Dh523.
The latest increase comes after changes in early May. Prices went down to Dh546 per gram for 24K gold on May 4. Then they went up strongly during the week. The recent increase means 24K gold has gone up by more than Dh22 per gram since the start of the week. This makes jewellery cost more for people who buy items, coins or gold bars.
Experts say the increase is because investors are interested in assets again. This happens because of uncertainty in the world and worries about inflation.
Global gold prices get support after data shows China added 8 tons of gold in April. This is the amount they bought since 2024. Central banks buying gold is one of the reasons gold prices are high. Investors watch to see if other big economies will buy gold.
There are also issues in the Strait of Hormuz and tensions between the US and Iran. This makes gold markets unpredictable. With gold doing well, traders are careful. They think high energy prices might keep inflation high. This could delay the US from cutting interest rates.
High interest rates are bad for gold because it does not make money like investments. A strong US dollar can also reduce demand for gold from countries. Markets are now waiting for the US jobs data. This will give clues on what the Federal Reserve will do.
Experts think gold prices will keep changing in the coming days. This happens as investors react to data issues in the world and what central banks do. Dubai gold prices are going up again after a drop in early May. China’s buying of gold and issues in the Middle East keep gold important.
