Dubai Gold Prices Hold Above Dh400 Amid Global Surge
<h3>Dubai Gold Prices Hold Firm as Global Bullion Sets $3,700 Record</h3><p>Gold opened strong in Dubai on Wednesday, September 17, mirroring a worldwide surge that lifted bullion to an all-time high of <strong>$3,700 per ounce</strong>. The rally reflects growing investor appetite for safe-haven assets amid economic uncertainty, anticipated U.S. interest-rate cuts, and ongoing geopolitical tensions.</p><h4>Local Rates</h4><p><strong>22K gold:</strong> Dh412.25 per gram</p><p><strong>24K gold:</strong> Dh445.25 per gram</p><p>Prices remain well above the Dh400 mark, a level analysts say is unlikely to be breached soon. Similar gains are visible elsewhere: in India, 24K gold traded around ₹11,193 per gram and 22K near ₹10,260, while markets in Saudi Arabia, Oman, Qatar, Bahrain, and Kuwait also posted sharp rises.</p><h4>Drivers of the Global Rally</h4><p><strong>Federal Reserve Outlook:</strong> Investors expect a quarter-point rate cut at the Fed’s Sept. 16–17 meeting. Lower rates reduce the appeal of interest-bearing assets and boost demand for non-yielding gold.</p><p><strong>Weaker U.S. Dollar:</strong> The dollar index hit a seven-week low, making bullion cheaper for buyers using other currencies.</p><p><strong>Central Bank Buying:</strong> Heavy purchases by emerging-market central banks—diversifying away from the dollar—have already propelled gold nearly 40 % higher in 2025.</p><p><strong>Geopolitical Tensions:</strong> Ongoing conflicts in Eastern Europe and renewed U.S. trade frictions under President Donald Trump are strengthening gold’s safe-haven status.</p><h4>Market Sentiment</h4><p>Goldman Sachs warns that continued market volatility and political pressure on the Fed—highlighted by Trump’s controversial push to remove Governor Lisa Cook—could drive prices toward <strong>$5,000 an ounce</strong> over the medium term. Exchange-traded funds (ETFs) backed by gold are also seeing heavy inflows as investors hedge against inflation and currency weakness.</p><h4>Regional Impact</h4><p>In Dubai, the “City of Gold,” retailers report steady demand from residents and tourists despite the high prices, while Gulf neighbors show similar buying patterns.</p><p><strong>Key Numbers at a Glance</strong></p><p>Dubai 22K: Dh412.25/g • 24K: Dh445.25/g</p><p>Global bullion: $3,700/oz record high</p><p>2025 year-to-date gain: ~40 %</p><p>Analysts’ upside target: $5,000/oz if volatility persists</p><p>Gold’s latest leap underscores its role as a universal safe haven, with Dubai remaining a prime destination for both jewelry shoppers and long-term investors.</p>