emirates7 - Gold prices in Dubai have risen by Dh37.75 per gram over the past month, bringing the price of 24-karat gold to Dh438.75. The steady increase has kept jewellers busy, investors attentive, and shoppers debating whether to buy now or wait.

This week could be pivotal. On the global stage, gold has extended its four-week winning streak, trading around $3,650 an ounce after reaching record highs.

How the US Federal Reserve Influences UAE Gold
Gold prices worldwide are closely linked to developments in Washington:

Expected rate cuts: Investors anticipate the US Fed may lower interest rates this week, a move that typically supports gold prices.
Weak US economic data: Jobless claims in the US have hit a four-year high, increasing the likelihood of a rate cut.
US inflation trends: Inflation remains below 3%, but rising expectations are driving traders toward gold.

For Dubai shoppers, these global shifts quickly impact local prices because the UAE dirham is pegged to the US dollar. Any fluctuations in global bullion, whether due to Fed decisions, inflation data, or geopolitical events, are almost immediately reflected in Dubai’s gold market.