Gold extended its losing streak at the start of the week, with UAE retail prices shedding more than AED 15 per gram Monday morning as the precious metal fell beneath the $4,400 threshold on global markets.
Spot gold was changing hands at $4,356.48 per ounce in early trade, a decline of three percent. Silver tracked the move lower, dropping 2.9 percent to $66 (AED 242) per ounce.
At the retail level, 24K gold opened Monday at AED 526.25 per gram, compared to AED 541.5 at Friday’s close — a single-session loss of AED 15.25. The broader monthly picture is starker: UAE gold prices have shed over AED 118 per gram since the start of March, with AED 103 of that decline recorded across the first three weeks of the month alone.
The 22K variant slipped under the AED 500 mark Monday, settling at AED 487.25 per gram, down AED 14.25. Other purities followed the same direction — 21K fell to AED 467.25, 18K to AED 400.5, and 14K to AED 312.5 per gram.
Analysts point to the ongoing conflict involving the US, Israel, and Iran as the primary driver behind gold’s persistent decline, with the war continuing to stoke inflation fears that have weighed on the metal’s safe-haven appeal.
