Assel Gold presents its wholesale brief for Friday, 16 October 2026.
The key news: Spot gold is near $4,174 an ounce. Fed Chair Kevin Warsh said this morning that he does not prejudge meetings and that the Fed will stop previewing decisions. From 17 October, Fed officials enter their quiet period. The next decision is on 28 October.
Today’s Dubai rates: 24K Dh500.75 · 22K Dh463.75 · 21K Dh444.50 · 18K Dh381.00.
What it means for wholesale buyers: There will be no new Fed hints for 12 days. Prices may drift with oil, the dollar and Gulf headlines instead. This week’s dip has already made metal cheaper than on Monday.
Example: A 1 kg 22K order costs Dh463,750 in metal today, Dh4,250 less than on 12 October. A 1 kg 24K bar costs Dh500,750, Dh4,750 less than Monday.
Advice for partners: Use the quiet period to cover stock for the next two weeks. Split larger orders into two parts: one now, one after the 28 October decision.
The honest caution: A surprise hike on 28 October could push gold lower; a hold could lift it. No one knows which. Buy only what your sales plan needs.
Assel Gold — Dubai craftsmanship, wholesale trust.
