Time to buy? Gold prices plunge nearly Dh9 per gram
Gold prices in Dubai dropped nearly Dh9 per gram on May 15, 2026, with 24K gold falling to Dh555.0 per gram, driven by US inflation fears and geopolitical tensions. Analysts linked the decline to rising US Treasury yields and uncertainty over US-China talks on trade and Taiwan.
Gold prices in Dubai fell sharply on Friday, May 15, 2026, with 24K gold trading at Dh555.0 per gram, down Dh8.75 from the previous session. The Dubai Jewellery Group reported declines across all gold variants, including 22K at Dh513.75, 21K at Dh492.75, 18K at Dh422, and 14K at Dh329.5 per gram. Global spot gold also weakened, dropping 1.57% to $4,603.92 per ounce, while silver fell 4.5% to $80.9 an ounce. Analysts attributed the decline to heightened inflation fears in the US economy, as producer price data showed the strongest monthly increase since early 2022, pushing US Treasury yields to multi-month highs. Investors closely monitored the US-China summit between President Donald Trump and President Xi Jinping, particularly regarding tensions over Taiwan and potential impacts on Middle East stability. Tony Sage, CEO of Critical Metals, noted that while trade discussions appeared constructive, geopolitical risks and elevated bond yields continued to pressure gold prices. Looking ahead, Sage predicted gold’s trajectory would depend on developments in geopolitics, energy markets, inflation expectations, and central bank policies. Despite ongoing central bank purchases, high yields may limit short-term price gains, he added.
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