Dubai gold prices slightly retreated on Thursday, October 2, following a dramatic surge the previous day that pushed rates to historic levels amid the US government shutdown.
As of today, 24-carat gold is priced at AED 465.75 per gram, down from Wednesday’s all-time peak of AED 468.25. The 22K variant slipped to AED 431.50, while 21K is at AED 413.50 and 18K trades at AED 354.50 per gram.
On Wednesday afternoon, bullion dealers saw a record-setting rally as 24K touched AED 468.25, 22K reached AED 433.75, 21K was priced at AED 416, and 18K stood at AED 356.25. Spot gold also climbed to $3,884.14 per ounce, reflecting the global market’s reaction to political and economic uncertainty in the US.
The surge left Dubai’s gold souks and jewelry shops adjusting to fast-changing rates, marking back-to-back record highs earlier in the week.
