Dubai gold price drops to lowest level since May 30, giving much-needed relief to shoppers in the UAE this weekend. Consumers are now enjoying the most affordable gold rates in nearly a month. The price of 22K gold settled at Dh365.5 per gram, while 24K reached Dh394.5. This drop has revived interest in the market, especially among holiday shoppers.
Earlier this month, gold prices hovered well above Dh370 for 22K, making this decline quite noticeable. The last time prices touched similar levels was on May 30. That brief dip had also triggered a temporary spike in gold sales. Buyers have since been waiting for another such opportunity.
The market showed signs of volatility. At one point, prices looked set to fall by another Dh2 to Dh3 per gram. However, they eventually stabilized at Dh365.5. This price movement encouraged many shoppers to make their purchases before prices changed again.
Retailers across Dubai confirmed a visible increase in customer visits as gold prices declined. Stores in busy shopping areas reported higher weekend foot traffic. Shoppers responded quickly to the favorable change, especially with summer promotions underway.
This current drop marks the most sustained fall in recent weeks. In mid-June, prices for 22K gold had approached Dh390 per gram. That mid-June high—Dh383.75—remains the peak for this season. Since then, the market has gradually shifted downward.
In India, gold prices have also been falling. One tola, equal to 11.66 grams, now costs Rs104,969. That reflects a drop of over 4% in just seven days, adding to the global downward trend.
According to the vice-chairperson of a leading jewelry group, there is a sense of optimism in the market. Many customers preparing for end-of-summer purchases welcomed the Dubai gold price drops to lowest level since May 30. The shift brought welcome financial relief after weeks of higher rates.
The price decline coincides with the launch of Dubai Summer Surprises. These seasonal promotions, especially gold-focused offers, have driven additional consumer interest. Retailers hope the momentum will carry through the coming weeks.
Looking forward, many shoppers hope the downward trend continues when global markets reopen. If gold rates remain low, experts anticipate another wave of buying in Dubai.
Dubai gold price drops to lowest level since May 30, offering a timely opportunity for those seeking better deals. The local market remains active, and all eyes are on where prices go next.
Many across the UAE will keep watching closely if the Dubai gold price drops to lowest level since May 30 again in the days ahead.
