Dubai, May 5 2026: Gold prices in Dubai went up a little on Tuesday morning. This is a bounce back after a big drop from the high prices we saw at the start of May. People are buying gold carefully at the Dubai Gold Souk as global gold markets are getting better.
As of 9:12am 24-karat gold costs Dh546.25 per gram. It was Dh546 on Monday. The 22-karat gold is now Dh505.75. It was Dh505.50 yesterday. The price increase is small.. It comes after a big drop earlier in the week.
At the start of May, 24-karat gold was Dh557.50 per gram. Then it went down to Dh556 over the two days. After that, it fell sharply to Dh546 on May 4. With Tuesday’s small increase in price, prices are still Dh11.25 lower than at the start of the month.
22-Karat gold has also gone down by Dh10.50 per gram from its price on May 1 which was Dh516.25.
The gold price movement here is like what’s happening in gold markets. Gold went up a bit after it fell 2 percent on Monday. People started buying gold. Spot gold went up about 0.4 percent to $2,341.79 $4541.79 an ounce. During trading in Asia, prices even went up much as 0.6 per cent.
People are still worried about what’s happening in the world. There’s tension in the Middle East. This is making people worried about inflation.
Oil prices are going up. US Treasury yields are also increasing. This makes people think that the Federal Reserve might keep interest rates the same or even increase them.
When interest rates rise, gold usually becomes less attractive. This is because gold doesn’t give you any returns. During uncertain times, people often turn to gold as a safe place to put their money. Other precious metals, such as silver, platinum, and palladium, also rose. Silver went up 0.5 per cent.
Investors are now waiting for US data and Treasury borrowing plans. This will help them understand what’s happening with interest rates and global markets. Gold prices have gone up a bit. In the coming days, it will depend on whether things get more stable in the world and what happens in global financial markets.
