Gold Rate in UAE Today Rises to AED 491.25 as Bullion Holds Above $4,070

The gold rate in UAE today, November 5, moved higher as international bullion held above $4,070 per ounce following its strongest rally since August. The UAE price of 24K gold rose to AED 491.25 per gram, while 22K gold climbed to AED 455.00. A weaker US dollar, falling Treasury yields and uncertainty following the US midterm elections continued to support precious metals.

Key Takeaways

• The UAE price of 24K gold increased to AED 491.25 per gram.
• The widely purchased 22K gold rate rose to AED 455.00.
• Spot gold traded around $4,070 after gaining more than 3% in the previous session.
• Lower Treasury yields and a weaker dollar supported bullion after Democrats won both chambers of Congress.
• Friday’s US jobs report could determine whether gold extends its recovery toward $4,100.

Gold Rate in UAE Today

UAE gold prices increased across all purity categories during Thursday morning trading. The following benchmark rates are quoted in UAE dirhams per gram and were provided by the Dubai Gold and Jewellery Group.

The 24K rate increased approximately 0.8% from the previous day. It has risen AED 18 per gram, or about 3.8%, from the November 3 rate of AED 473.25.

The 22K gold rate has gained AED 16.75 per gram over the same period, rising from AED 438.25 to AED 455.00.

At the published morning rate, 10 grams of 24K gold would cost approximately AED 4,912.50 before making charges and other retailer-specific costs. Ten grams of 22K gold would cost about AED 4,550.

Final jewellery prices may differ because retailers add making charges, design premiums and applicable taxes to the underlying gold value.

Global Gold Holds Above $4,070

Spot gold traded around $4,070.10 per ounce during Asian trading, extending the previous session’s powerful recovery. The metal gained approximately 3.4% on Wednesday to reach $4,059.95, while US December gold futures settled 3.4% higher at $4,073.

Wednesday’s gain was gold’s strongest daily performance since August. It also pushed the metal back above the psychologically important $4,000 level after prices fell to $3,869.85 on October 30, their lowest point since October 2025.

Silver also participated in the precious-metals rally, rising almost 5% to approximately $52.23 per ounce. Platinum gained 5.6%, while palladium advanced about 7.5%.

Democratic Election Sweep Weakens the Dollar

Gold’s rally accelerated after Democrats won control of both the US Senate and House of Representatives in the midterm elections.

The result ended unified Republican control of Washington and increased expectations of political gridlock between Congress and President Donald Trump’s administration. Investors expect a Democratic-controlled legislature to restrict additional tax cuts, military spending and other policies that could increase the federal deficit.

These expectations pushed the US dollar to its lowest level in more than a month. A broad measure of the currency fell approximately 0.4%, its largest decline in two months.

A weaker dollar supports gold by making the metal less expensive for buyers using other currencies. Because the UAE dirham is pegged to the dollar, movements in international bullion prices are also transmitted relatively directly into local gold rates.

Falling Treasury Yields Support Bullion

US Treasury yields declined as investors considered the potential economic and fiscal consequences of divided government.

The benchmark 10-year Treasury yield fell approximately six basis points to 4.89%. Lower yields reduce the opportunity cost of holding gold, which does not generate interest income.

The sharp decline in oil prices also helped bond markets. Brent crude plunged 8.7% to $94.62 per barrel as investors increased bets that the Democratic election victory could accelerate efforts to end the US-Iran conflict.

Lower oil prices could reduce headline inflation and ease pressure on the Federal Reserve to continue raising interest rates. However, monetary policy expectations remain a significant obstacle to a sustained gold rally.

December Fed Rate-Hike Expectations Remain Elevated

Markets currently assign an approximately 82% to 83% probability to a 25-basis-point Federal Reserve rate increase in December.

Higher interest rates would normally weigh on gold because they increase the returns available from bonds and cash. The metal’s ability to rally despite elevated rate-hike expectations indicates that political uncertainty, dollar weakness and lower long-term yields are currently having a stronger influence.

Wednesday’s ADP report showed that private-sector employment increased by 86,000 in October, exceeding economists’ forecasts. The result suggested that the labour market remains resilient enough to tolerate another rate increase.

The ISM services index slipped from 54.9 to 54.5, but its prices-paid component remained elevated, showing that service-sector inflation has not disappeared.

US Jobs Report Becomes the Next Gold Catalyst

The next major test for gold will be Friday’s US nonfarm payrolls report.

Economists expect the economy to have added approximately 59,000 to 65,000 jobs in October, compared with only 29,000 in September. The unemployment rate is forecast to remain at 4.2%, while average hourly earnings are expected to increase 0.3% month over month.

Payroll growth above 100,000, combined with stronger wages, could lift the dollar and Treasury yields. That outcome may push gold back toward $4,000 and produce a lower UAE gold rate.

A weak employment result or an increase in unemployment could reduce December rate-hike expectations, potentially allowing bullion to extend its rally.

Gold Price Levels to Watch

The first important resistance level for spot gold is located at $4,100. A sustained break above that threshold could open the way toward $4,150 and $4,200.

Initial support is located around $4,050, followed by the major $4,000 level. A move below $4,000 could expose the $3,950 to $3,970 region.

The near-term direction of the gold rate in UAE today will depend on whether international bullion can maintain its post-election recovery. US jobs data, Treasury yields, the dollar and developments in Iran peace negotiations will remain the main drivers.

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