UAE Gold Prices Dip Slightly on August 28

Gold prices in the UAE experienced a slight decline on Friday, August 28, 2026, across all denominations compared to the previous day. This comes amid a global dip in yellow metal prices, as investors await Federal Reserve Chair's statements regarding potential interest rate hikes. The price of 24-karat gold per gram reached 541.1 AED ($147.4), while 22-karat registered 496.1 AED ($135.2), and 21-karat stood at 473.5 AED ($129.1). The 18-karat gold per gram was priced at 405.8 AED ($110.6). Additionally, the price of an ounce of gold was 16,830.4 AED ($4,585.9), and a one-kilogram ingot was valued at 544,900.2 AED ($148,474.2). Analysis indicates that global gold prices fell by 0.5% in spot transactions, reaching $4,576.30 per ounce after hitting their highest level in over three months. Expectations suggest a 33.9% probability of a US interest rate hike in September and a 74% chance in December, which typically impact gold prices, as the yellow metal does not generate yields.

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