Some traders expect gold prices to consolidate for now, but a move back above $3,500 (Dh390/g) is still on the table, especially with ongoing global uncertainties. Even if it dips to $3,000 (around Dh355/g), the long-term bullish outlook remains intact.
This is primarily because the broader trend remains strong: central bank purchases and rising investor demand through gold ETFs have driven gold up roughly 125% since October 2022. Over the past year alone, prices are up more than 50%.
Bigger picture, forecasts
Major banks expect gold to average about $3,063/oz in 2025, rising toward $3,350 in 2026. While some short-term forecasts suggest a 12–15% dip is possible, the medium-term outlook points upward due to ongoing geopolitical risks and strong buying interest.
When buying gold now, today’s price of Dh369 per gram is a reasonable level as further drops may not be substantial.
For long-term investors, this minor correction could be a smart entry point, especially if gold continues its upward momentum in the coming months. Whether you’re looking to shop or invest, current prices offer a balance of affordability and upside potential.
Verdict: Drop more or buy now?
Gold at Dh369 per gram in Dubai reflects a modest pullback — not a downturn. With strong support levels and demand from central banks and investors still high, the price is unlikely to crash.
For UAE residents looking to buy, today’s price offers a balanced opportunity before any potential uptrend resumes – atleast that’s the case for now.
