Gold prices in Dubai fell further on Wednesday morning, giving jewellery buyers a good price break after rates pulled back from the highs seen earlier this month.

At 8.50 am, 24-karat gold stood at Dh491.50 per gram, compared with Dh498.75 on Tuesday, while 22-karat gold was at Dh455.25, down from Dh461.75. The latest decline gives UAE shoppers a lower entry point, although traders say buyers should still expect quick price swings because global bullion remains sensitive to the dollar, US interest-rate expectations and equity market volatility.

The fall marks a retreat from the start of June, when 24-karat gold was trading above Dh539 per gram and later touched Dh542.50 on June 2. Prices remained elevated in the first week, with 24-karat gold at Dh538.50 on June 4 before easing to Dh522.50 on June 5 and holding near Dh521 levels over the following days.

Prices pull back from June highs

The most notable move came around June 10, when 24-karat gold dropped to Dh492.50 and 22-karat fell to Dh456, before prices recovered again in the middle of the month. By June 15 and 16, 24-karat gold had climbed back above Dh521, while 22-karat returned to the Dh482 to Dh483 range.

That recovery did not last. Prices eased again from June 18, when 24-karat gold stood at Dh509.25 and 22-karat at Dh471.50. By June 22, 24-karat had slipped to Dh506, followed by Dh498.75 on June 23 and a further decline on Wednesday morning. The latest price leaves 24-karat gold more than Dh50 below its June 2 level, giving buyers a much lower rate than they would have paid earlier this month.

Should shoppers buy now?

The latest drop improves affordability, especially for those purchasing wedding jewellery, gifts or larger pieces where a Dh40 to Dh50 move per gram can make a visible difference to the final bill. Buyers who have been waiting through June’s price swings may see current levels as more attractive, particularly after the metal’s pullback from record highs.

Still, analysts say the decision depends on whether shoppers are buying for immediate use or trying to time the market. Those purchasing for near-term needs may benefit from the current correction, while buyers with flexibility may prefer staggered purchases because the market remains exposed to sudden moves.

Dollar strength weighs on bullion

Globally, gold fell for a second day as a stronger US dollar and a tech-led selloff in equities prompted some investors to cut bullion holdings and raise cash to cover losses elsewhere.

Spot gold dropped as much as 1.2% to below $4,070 an ounce, after falling 1.7% in the previous session to record its lowest close in two weeks. US Treasuries rallied on Tuesday, while a gauge of the dollar gained 0.6% so far this week, making dollar-priced bullion more expensive for buyers using other currencies.

Gold is usually seen as a haven during periods of uncertainty, but it can also fall during broad market selloffs because investors use it as a source of liquidity. Tuesday’s Wall Street decline was driven by concerns that the AI-led equity rally had moved too far, although Asian markets later showed a cautious recovery.

Rate outlook remains a risk

Gold is also facing pressure from persistent inflation risks and expectations that central banks may keep interest rates steady for longer or move towards further hikes. Higher borrowing costs tend to weigh on gold because the metal does not offer interest income.

The hawkish tone from Federal Reserve Chair Kevin Warsh has added to investor caution and partly offset the supportive impact from last week’s interim US-Iran peace deal. Until there is greater clarity on inflation, interest rates and the dollar, Dubai gold prices are likely to remain volatile, even if current levels look more appealing for shoppers than the highs seen earlier this month.

GN

A wide international coalition, including the UAE, EU and dozens of countries such as the US, UK, France, Saudi Arabia and Japan, has issued a joint statement condemning a drone attack near the Barakah Nuclear Energy Plant in the UAE.

The May 17, 2026 strike, attributed to armed factions in Iraq, targeted electrical infrastructure outside the plant’s inner perimeter and was described as a “flagrant violation of international law”. The signatories warned of serious safety, environmental and humanitarian risks, urged an immediate halt to attacks on the UAE, and reaffirmed support for the peaceful operation and security of nuclear facilities under IAEA oversight.

A joint statement on the attack on the Barakah Nuclear Plant has been issued by the United Arab Emirates, Argentina, Armenia, Australia, Austria, Bahrain, Belgium, Bulgaria, Canada, Chile, Colombia, Comoros, Costa Rica, Côte d’Ivoire, Croatia, Cyprus, Czechia, Denmark, Egypt, Ecuador, Estonia, EU, Finland, France, Georgia, Germany, Greece, Guatemala, Honduras, Hungary, Ireland, Italy, Japan, Jordan, Kazakhstan, Kuwait, Latvia, Lebanon, Libya, Liechtenstein, Lithuania, Luxembourg, Malta, Marshall Islands, Mauritius, Moldova, Morocco, Netherlands, New Zealand, Norway, Pakistan, Palau, Paraguay, Peru, Philippines, Poland, Portugal, Qatar, Republic of Korea, Romania, Saint Vincent and the Grenadines, San Marino, Saudi Arabia, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Spain, Sweden, Switzerland, Syria, Tonga, Türkiye, Ukraine, United Kingdom, United States, Uruguay, Vietnam, and Yemen. Following is the statement:

“We condemn in the strongest terms the drone attack of 17 May 2026 launched by armed factions in Iraq on electrical infrastructure outside the inner perimeter of the Barakah Nuclear Energy Plant in the United Arab Emirates.

This attack constitutes a flagrant violation of international law, including the Charter of the United Nations, and threatens regional and international peace and security. The attack posed significant risks for civilian lives and objects and of potential severe transboundary radiological, environmental, and human health consequences.

We express our deep concern over this dangerous escalation and demand the immediate and permanent cessation of all attacks against the United Arab Emirates, including attacks against nuclear facilities devoted exclusively to peaceful purposes. We call on States to refrain from acts of aggression and to respect their obligation, under international law, to ensure that their territory is not used by non-state actors to launch attacks against other States.

We strongly support the territorial integrity and sovereignty of the United Arab Emirates, in line with the principles of the Charter of the United Nations.

We commend the prompt and transparent information provided to the International Atomic Energy Agency (IAEA) by the United Arab Emirates through its competent authorities about the consequences of this attack, successful mitigation actions and radiation levels around the Barakah Nuclear Energy Plant which remained normal.

We appreciate the continued efforts of the United Arab Emirates authorities to ensure the safe, secure and peaceful operation of the Barakah Nuclear Energy Plant under Agency safeguards and in accordance with the highest international standards, and welcome the ongoing coordination between the IAEA and the relevant United Arab Emirates authorities.

We reaffirm that the Barakah Nuclear Energy Plant was designed, constructed, and is operated in accordance with the highest international standards and under the oversight of the United Arab Emirates’ Federal Authority for Nuclear Regulation (FANR), and in line with the safety standards of the IAEA.

We support the continued efforts of the IAEA and the Director General in monitoring developments relevant to nuclear safety, nuclear security and safeguards in member States.

We call on States to refrain from any action that may endanger the safety and security of nuclear power plants devoted exclusively to peaceful purposes.

This drone attack affecting infrastructure in proximity to the Barakah Nuclear Energy Plant facility underscores the urgent importance of protecting nuclear infrastructure devoted exclusively to peaceful purposes from threats and hostile acts.

We call for strengthened international cooperation aimed at protecting nuclear power plants devoted exclusively to peaceful purposes and related sites and infrastructure, including through enhanced physical protection, emergency preparedness, and resilience measures.”

GN

The 2026 FIFA World Cup is just around the corner meaning football fans in the UAE need to prepare for a summer of late nights and early mornings.

While not having free-to-air World Cup coverage, the UAE will still have full access to every single match through beIN SPORTS, the official broadcaster for the Middle East and North Africa region. That means all 104 games will be shown live, but via subscription-based platforms.

 There are a few ways fans can tune in with the most traditional option through a beIN SPORTS satellite subscription, which delivers dedicated World Cup channels straight to your TV.

For those who prefer streaming, beIN CONNECT offers live coverage on mobile, laptop and smart TV devices. Meanwhile, TOD by beIN has become a popular standalone streaming option, giving fans more flexibility to follow the action without needing a full satellite package.

What time do the games kick-off in UAE?

With the tournament being hosted across the United States, Canada, and Mexico, spanning multiple time zones, matches will follow a structured daily rhythm designed for global audiences, but it isn’t so helpful for UAE fans.

During the group stage, the matches will most frequently rotate through the following set of kick-off windows:

• 11:00 PM GST
• 2:00 AM GST
• 5:00 AM GST
• 8:00–11:00 AM GST

It means fans in the Emirates will get a real mix of late night and sunrise football. Whether it’s gathering with friends late at night or catching highlights over morning coffee, the World Cup will be part of daily life across the country for a month-long stretch.

While the absence of free-to-air coverage means viewers need a subscription to follow every match, the upside is complete access to the entire tournament in one place, with full coverage, analysis, and dedicated World Cup programming across beIN’s platforms.

And of course, football in the UAE rarely stays behind closed doors. Across Dubai, Abu Dhabi, and beyond, fans can expect packed sports bars, fan zones, and public screenings throughout the tournament, creating that shared World Cup atmosphere that brings people together no matter who they support.

So, whether you’re watching at 11pm, 2am or even grabbing a quick nap before a 5am kick-off, one thing is certain, the World Cup is set to take over life in the UAE once again.

GN