Gold Rate in UAE Today Rises to AED 470.50 as XAU/USD Rebounds Above $3,900

Key Takeaways

• The gold rate in UAE today rose to AED 470.50 per gram for 24K gold, up AED 3.50 from the previous day.
• The widely purchased 22K gold rate increased AED 3.25 to AED 435.75 per gram.
• XAU/USD recovered above $3,900 after plunging 3.6% and briefly touching approximately $3,870 on Friday.
• Despite the rebound, UAE 24K gold remains almost 7% below its October high of AED 505.50.
• The US midterm elections and October employment report are the week’s main potential catalysts.

The gold rate in UAE today, November 2, 2026, rose during morning trading as international bullion recovered above $3,900 following Friday’s sharp sell-off.

The Dubai Gold and Jewellery Group priced 24K gold at AED 470.50 per gram, while 22K gold increased to AED 435.75. Although the rebound makes jewellery more expensive than during the weekend, local gold prices remain substantially below the levels recorded in the first half of October.

Gold Rate in UAE Today

UAE gold prices increased across all five purity categories during the latest morning adjustment.

The following rates are quoted in UAE dirhams per gram:

The latest published rates were provided by the Dubai Gold and Jewellery Group. Afternoon and evening quotations were not yet available at the time of publication.

At the morning benchmark, 10 grams of 24K gold would cost approximately AED 4,705, compared with AED 4,670 the previous day. Ten grams of 22K gold would cost AED 4,357.50 before making charges and other retailer-specific costs.

UAE Gold Prices Remain Below October Highs

The latest increase follows a steep decline at the end of October.

The 24K gold rate fell from AED 485 on October 29 to AED 468.75 on October 30 before reaching AED 467 during the weekend. The 22K rate declined from AED 449.25 to AED 432.50 over the same period.

Despite Monday’s recovery, 24K gold remains AED 35 below its October 11 high of AED 505.50, representing a decline of approximately 6.9%. The 22K rate is AED 32.25 below its monthly high of AED 468.

Over the most recent ten-day period, 22K gold has fallen AED 10.25, or approximately 2.3%.

The decline may attract jewellery buyers who delayed purchases when local prices traded above AED 500. However, customers should remember that published benchmark rates do not include making charges, design premiums or other retailer costs.

Why Did the UAE Gold Rate Rise Today?

UAE gold rates recovered because XAU/USD rebounded toward $3,900 during Asian trading.

International bullion plunged approximately 3.5% on Friday, falling below $4,000 and reaching its lowest level since October 2025. The sell-off was partly caused by rising expectations for another Federal Reserve rate increase.

Gold was also affected by the technology-stock rout. Some investors sold liquid assets to meet margin requirements after the Nasdaq fell sharply, temporarily weakening gold’s traditional safe-haven behaviour.

Bullion attracted fresh demand on Monday as oil prices declined following renewed diplomatic efforts involving the United States and Iran. Lower oil prices can reduce inflation expectations and weaken the argument for additional monetary tightening.

However, gold remains below $4,000, and interest-rate futures indicate approximately a 73% probability that the Federal Reserve will raise rates in December.

US Midterm Elections Could Move Gold

The November 3 US midterm elections are the first major event risk for gold this week.

A Democratic victory in Congress could limit further fiscal expansion, potentially reducing long-term Treasury yields and supporting bullion. However, less government borrowing could also ease concerns about US debt, removing one source of structural gold demand.

An unexpected Republican sweep could initially lift the dollar and bond yields if investors anticipate additional tax cuts or spending. That combination would normally place pressure on XAU/USD and UAE gold rates.

A delayed or contested election result could produce the opposite reaction by increasing political uncertainty and safe-haven demand.

US Jobs Report Is the Main Weekly Catalyst

The October US employment report will be released on Friday, November 6, at 5:30 p.m. UAE time.

Economists expect nonfarm payrolls to rise by approximately 63,000 after increasing by only 29,000 in September. The unemployment rate is forecast to remain at 4.2%, while average hourly earnings may accelerate from 0.1% to 0.3% month over month.

A stronger report could reinforce expectations for a December Fed increase, pushing Treasury yields and the dollar higher while weighing on gold. A weaker report could reduce rate-hike bets and help XAU/USD recover toward $4,000.

Before Friday, investors will also receive JOLTS job openings, ADP private employment and ISM Services data.

What Is the Outlook for UAE Gold Prices?

For XAU/USD, the $3,870 area represents immediate support, followed by the more important $3,800 to $3,840 region. Resistance is located between $3,970 and $4,000.

A sustained recovery above $4,000 could return the UAE 24K gold rate toward approximately AED 480 to AED 485 per gram. A renewed decline below $3,840 could instead push the local benchmark toward AED 460 to AED 465.

These local levels are approximate because UAE jewellery rates also reflect dealer pricing and market premiums.

The near-term direction of the gold rate in UAE today will depend on whether the international rebound extends beyond $3,900 as markets assess the US election result, employment data and the possibility of another Federal Reserve rate increase.

Trade Gold 24/7 & Unlock Up to $5,000 in Rewards

Looking to trade gold price movements? Explore selected Gold CFDs available for 24/7 trading with Markets.com. Take positions on rising or falling prices and discover combined new-client rewards of up to $5,000, subject to eligibility and applicable terms. Register today.