Dubai’s gold market held firm despite turbulence in global financial markets and rising geopolitical tensions across the Middle East. As of March 7, 2026, the emirate’s bullion trade avoided any major downturn, with prices edging higher compared to the previous day.
At the start of March, 24-karat gold surged to Dh641 per gram between March 3 and 4, before retreating to Dh614 per gram in a mid-week correction that mirrored international market pullbacks. By the weekend, however, momentum returned. On March 7, 24K gold rebounded to Dh620 per gram, marking a daily gain of Dh8.50 and signaling renewed buying interest.
Analysts point to several global drivers behind the volatility. A stronger US dollar and shifting expectations around interest rate cuts have weighed on sentiment, while geopolitical tensions—particularly developments involving Iran—initially boosted safe-haven demand, pushing international spot prices above $5,000 per ounce. The sharp rally was followed by profit-taking and a move toward liquidity, triggering temporary corrections.
Despite these swings, experts remain optimistic about the broader outlook. Persistent global uncertainty continues to underpin demand for bullion, with many investors viewing price dips as buying opportunities.
As of March 7, Dubai’s gold rates stand at:
24K gold: Dh620 per gram (up Dh8.50)
22K gold: Dh574.25 per gram (up Dh8)
18K gold: Dh472 per gram
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: deccanchronicle.com
