Gold prices in Dubai slip further as markets track dollar strength over war tensions

Gold prices in Dubai continued their downward trend on April 21, 2026, as global investors prioritized the strengthening U.S. dollar over ongoing geopolitical risks.

 Despite persistent tensions in various conflict zones, the bullion market has shifted its focus to macroeconomic indicators, particularly the resilience of the greenback, News.Az reports, citing Gulf News.

In Dubai's retail markets, the price for 24K gold dropped to approximately AED 285 per gram, reflecting a broader global sell-off as higher bond yields and a robust dollar reduced the appeal of non-yielding assets.

Financial analysts noted that the usual "safe-haven" demand sparked by war concerns has been overshadowed by the prospect of sustained high interest rates. As the dollar climbs against major currencies, gold becomes more expensive for international buyers, leading to a cooling of demand in major trading hubs like the UAE.

Local jewelry retailers have observed a slight uptick in buyer interest as prices dip, but the overall market sentiment remains cautious. Investors are now closely watching upcoming central bank announcements, which are expected to dictate whether gold will find a new support level or continue its descent in the coming weeks.

News.Az 

By Leyla Şirinova