Dubai gold prices fall as market retreats from April peak

Gold prices in Dubai edged lower on Tuesday morning, providing shoppers with a modest reprieve following a volatile month for the precious metal.

The 24-karat variety was priced at Dh562.50 per gram, down from Monday’s Dh565.75, while 22-karat gold slipped to Dh520.75, News.Az reports, citing Gulf News.

This latest decline reflects a cooling trend in the final week of April, with prices now significantly lower than the month's peak. On April 17, 24K gold reached a high of Dh588, meaning current rates offer a discount of approximately Dh25.50 per 10 grams compared to that mid-month high.

The market remains sensitive to global factors, including geopolitical tensions in the Strait of Hormuz, oil-driven inflation pressures, and central bank interest rate signals, which continue to dictate the narrow buying windows for retail consumers.

News.Az 

By Leyla Şirinova