Gold Rates Today (20-05-2026) Crash In UAE After Attack On Nuclear Plant; Dubai Gold Rates Falls By Rs 13,200

Gold rates in Dubai crashed on May 20, 2026, amidst rising tensions in the Middle East. Meanwhile, the United Arab Emirates (UAE) is entangled in the crossfires and kabooms exchanged between the US military and the Iranian regime. Also, the safe haven in the souk market is not so safe after the UAE's Barakah nuclear power plant was hit by Iranian proxies on May 19th. The UN along with Russia and other countries, has condemned the latest attack on the UAE, but that just fueled selling pressure in physical gold rates of this market.

Not just Dubai, gold rates in Abu Dhabi Fujairah, Ras Al Khaimah, Sharjah, and Ajman in the UAE also dropped on Wednesday.

Gold Rates In Dubai: (AED)

24 carat gold rate dropped by AED 525 in 100 grams to AED 54,225, while 10 grams gold in this carat stood at AED 5,422.50, down by AED 52.50.

Also, 100 grams gold price in 22 carat declined by AED 500 to AED 50,200 under 22 carat, and had slipped by AED 50 to AED 5,020 in 10 grams.

In 18 carat, 10 grams gold price plunged by AED 42.50 to AED 4,125, while 100 grams gold contracted by AED 425 to AED 41,250.

Gold Rates In INR:

In Indian rupee, gold rates in Dubai crashed by Rs 13,848 to Rs 14,30,233 per 100 grams in 24 carat and declined by Rs 1,385 to Rs 1,43,233 per 10 grams. 24 Carat gold price stood at Rs 14,032 per 1 gram, down by Rs 139.

Further, in INR, the 22 carat gold rate in souk market tumbled by Rs 13,188 to Rs 13,24,070 per 100 grams and was down by Rs 1,319 to Rs 1,32,407 per 10 grams.

Meanwhile, 18 carat gold rate in INR declined by Rs 1,121 in 10 grams to Rs 1,08,801. The 100 grams gold price in 18 carat nosedived by Rs 11,210 to Rs 10,88,006.

This makes gold rates in Dubai cheaper than compared to gold rates in India. Gold rates in other cities of UAE also declined on similar levels. Gold is broadly down by 2% to 2.5% in Dubai.

Iran Attacks UAE's Barakah nuclear power plant

As per the latest report, Abu Dhabi said pro-Iranian proxy is active in Iraq and had attacked UAE's Barakah nuclear power plant. The drone dropped on May 18, striking an electrical generator of the Barakah nuclear plant which is the largest nukes in the Arab world. However, no injuries were reported but a fatal fire had erupted.

Russia and the UN Security Council condemned the attack on UAE. It needs to be noted that UAE is a close ally of both USA and Israel and hence since late-February, Iran has been attacking various US assets and infrastructure in the Emirates country.

Among the latest developments in the West Asia conflict, the Trading Economics data highlighted that President Donald Trump warned that the US could resume strikes on Iran within "two or three days" if Tehran failed to agree to Washington's peace terms. The remarks came shortly after Trump said he had called off a planned attack following appeals from Gulf allies, with Tehran's nuclear program being a major sticking point in negotiations.

Also, gold faced setback due to the prolonged conflict has effectively kept the crucial Strait of Hormuz closed to shipping, driving oil prices higher and intensifying inflationary pressures.

Spike in inflation has fueled scenario of rates hike in 2026 from global central banks including US Federal Reserve.

As per Gaurav Garg, research analyst at Lemonn markets desk, the recent volatility in gold and silver markets can be attributed to a mix of geopolitical risks and technical trading patterns, with investors balancing these factors against expectations of forthcoming economic data.

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