Gold prices in Dubai took a sharp dip on Wednesday morning, falling below the symbolic Dh400 mark per gram, offering some much-needed relief to buyers following a record-setting rally earlier this week.

The price for 24-carat gold opened at Dh399.50 per gram, a significant drop from Dh420 on Tuesday. The decline comes after weeks of price surges that had seen rates climb almost hourly.

Other gold variants also saw notable decreases:

• 22K gold is now priced at Dh370.00, down from Dh388.75
• 21K gold sits at Dh354.75, previously Dh372.75
• 18K gold dropped to Dh 304.00 from Dh319.50

Mixed Reactions from Consumers

The recent rollercoaster in gold prices has sparked a variety of responses across the city. While some residents rushed to sell old jewellery for cash at higher prices, others opted to buy new pieces in anticipation of further increases.

Local jewellers say shoppers are gravitating towards lighter jewellery designs and smaller investment pieces like gold coins. Some are even trading in older items to secure better value at current rates, according to a local report.

Global Factors at Play

On the international stage, spot gold fell by 0.7% to $3,357.11 per ounce, while US gold futures dropped 1.5% to $3,366.80.

The dip is largely attributed to a rebound in the US dollar index. Market sentiment shifted after US President Donald Trump backed away from earlier plans to dismiss Federal Reserve Chair Jerome Powell, a move that reassured investors and strengthened the dollar.

Earlier price surges were driven by a weaker dollar, recession fears, and tense US-China trade relations. Now, with the dollar stabilising, gold prices are adjusting accordingly.

For real-time updates and historical data on gold prices in Dubai, visit GoldTrade.ae.

US President Donald Trump is expected to visit the UAE in mid-May as part of a broader Middle East tour that includes Saudi Arabia and Qatar, a trip he says could bring massive investment and job creation to the region.

Speaking to reporters in the Oval Office on Monday, Trump said he plans to travel to Saudi Arabia “as early as May” to sign a deal that could inject more than $1 trillion into the US economy, including major purchases of military equipment. He added that similar agreements could be signed in the UAE and Qatar.

“Tremendous jobs will be created in those two or three days,” Trump said, without revealing specific details of the investment plans.

Sources briefed on the visit say the trip is tentatively scheduled for mid-May, marking Trump’s first foreign visit since returning to the White House. Like his 2017 tour, which also began in Saudi Arabia, the trip is expected to underscore the administration’s push for economic diplomacy in the Gulf region.

In the UAE, expectations are high that the visit could open the door to large-scale trade, infrastructure, and technology investments, sectors that align with the country’s ongoing push to diversify its economy and create new employment opportunities.

Beyond economic deals, the visit may also involve high-level discussions on key geopolitical issues, including the wars in Ukraine and Gaza. Trump is also expected to continue efforts to expand the Abraham Accords.

A White House official confirmed that the international trip is under active consideration, noting: “We don’t yet have a specific plan, and we will provide that information when it is official.”

As anticipation builds, all eyes in the UAE will be on the potential economic ripple effect of Trump’s visit, especially if it delivers on promises of job growth and international investment.

(Source: Reuters)

Pro Panja League, India’s premier professional Arm Wrestling tournament, is set to mark a significant moment in the league’s journey, making its international debut on April 19th at the India Club, who are also the venue partner for the tournament in Abu Dhabi, UAE.

The ‘Pro Panja UAE Cup’ is the first-ever occasion when the league is organizing an international event. The event will bring together some of India’s best arm wrestlers alongside the best arm wrestlers from around the world.

The event is sanctioned by the Dubai Sports Council and will technically be overlooked by the Emirates Body Building and Fitness Federation. Actor and Co-Founder of the Pro Panja League, Mr. Parvinn Dabass and Bollywood Star and President of the People’s ArmWrestling Federation India , Mrs. Preeti Jhangiani will be making a special appearance at the event, alongside Mr. Raz Khan, who is the representative for Pro Panja League in the UAE.

A total of five matches will be played at the event, with the huge India-Pakistan headline clash being between India’s Mazahir Saidu (110 kg), who is India’s Number 1 and also the captain of Kochi KD’s in the Pro Panja League, and Pakistan’s Omer Jamshaid (105 kg).

In the 90 kg category, Arjun Menon from India will take on Talal Ali from Bahrain, while another Indian, Umesh Kattuparambil (80 kg) will compete against Ameer Alturkumani (85 kg) from UAE. In the other three matches at the landmark event, Prasad Kanhangad (75 kg) of India will be pitted against UAE’s Rambo (80 kg), while India’s Asker Ali (85 kg) will fight it out against Ali (90 kg).

Speaking about the international debut, Parvinn Dabass, Co-founder of Pro Panja League, said, “The Pro Panja UAE Cup is a natural progression in our vision to make arm wrestling a mainstream, globally recognized sport. The UAE has emerged as a hub for combat sports and we are thrilled to bring the energy and excitement of Pro Panja to such an enthusiastic audience and I thank our UAE partners especially India Club and Mr Faisal Alzaabi for their support .”

Sharing her enthusiasm for the same, Bollywood Star, Preeti Jhanghiani added, “Having seen the Pro Panja League up close, I have to say it’s a superb mix of sports and entertainment and Bollywood masala, everyone who watches falls in love with Pro Panja and now I’m honoured to be meeting my UAE fans through this platform .”