Assel Gold presents its wholesale brief for Wednesday, September 30, 2026. Our thoughts remain with everyone affected across the Gulf.
The key fact today: Gold is heading for its first monthly loss of the year, down around 6% in September. In Dubai, 24K recovered to Dh503.50 per gram this morning after dipping below Dh500 on Tuesday.
Today’s Dubai rates (DGJG): 24K Dh503.50 · 22K Dh466.25 · 21K Dh447.25 · 18K Dh383.25. Spot gold is near $4,180 per ounce.
Why gold fell: The 10-year US Treasury yield is above 5.1%, and markets are pricing a possible Fed rate hike. Tuesday’s weak US data eased those fears and gold bounced 1.4%.
What it means for wholesale buyers: Month-end is a natural time to settle September and plan Q4. Metal is cheaper than at any point in the past two months, while oil has eased to about $102. Retailers restocking now for the Diwali and winter wedding seasons are buying at a better level than in August.
For our partners: Book core 21K and 22K lines now. Fix the metal in stages. Agree making charges separately from the metal price.
The honest caution: If US inflation data runs hot, yields could push gold lower still. Staged buying protects you either way.
Assel Gold — Dubai craftsmanship, wholesale trust. Contact us for today’s rates and catalogues.
