Gold Rates In Middle East: Gold In UAE, Saudi, Qatar, Kuwait, Oman Fall 3% In 12 Days Amid US-Iran-Israel War

Gold Rates in Middle East are under pressure as the war between the US-Israel and Iran entered its 13th Day. Following the US and Israel's coordinated attack on Iran, the Islamic regime targeted neighboring countries like the UAE, Qatar, Kuwait, Oman and Bahrain, hitting US assets. However, in the initial days of the war, gold and silver both saw demand uptick in these countries but gave up returns and are in the red so far.

Gold Rates In Souk Market:

Gold is down by nearly 3% in Saudi Arabia in March 2026 so far, while Gold in United Arab Emirates (UAE) slipped by 2.6% especially in Dubai. Meanwhile, in countries like Qatar, Kuwait and Bahrain, the bullion is down by 2% each.

Despite the latest correction, gold is cheaper in these countries compared to India.

24 Carat Gold Rates In Middle East:

As of now, 1 gram gold in UAE market is at AED 619.75, which is at Rs 15,576 in Indian currency. In the Arab countries, 1 gram gold price in 24 carat is more expensive in Saudi Arabia, Oman, Qatar and Bahrain above Rs 15,600 mark.

However, gold is cheaper in Kuwait to Rs 15,484 or KWD 51.40 compared to not only in India but also its neighbours.

Country	Local Currency	Price in INR
Gold Rates In United Arab Emirates	AED 619.75	₹15,576
Gold Rates In Saudi Arabia	SAR 637.00	₹15,672
Gold Rates In Kuwait	KWD 51.40	₹15,484
Gold Rates In Qatar	QAR 618.50	₹15,662
Gold Rates In Oman	OMR 65.25	₹15,648
Gold Rates In Bahrain	BHD 63.90	₹15,655

22 Carat Gold Prices In Middle East:

Under 22 carat, 1 gram gold price ranges from Rs 14,175 to Rs 14,510 in countries like Qatar, UAE, Saudi, Kuwait and Bahrain. But in Oman, 22 carat is expensive to Rs 14,604 per 1 gram.

Country	Local Currency	Price in INR
United Arab Emirates	AED 574.00	₹14,427
Saudi Arabia	SAR 586.00	₹14,416
Kuwait	KWD 47.05	₹14,175
Qatar	QAR 573.00	₹14,510
Oman	OMR 60.90	₹14,604
Bahrain	BHD 59.20	₹14,504

18 Carat Gold Prices In Middle East:

1 gram gold price in these countries is below Rs 12,000 mark. However, 18 carat of 1 gram is expensive in Oman, Bahrain, Saudi Arabia and UAE.

Country	Local Currency	Price in INR
United Arab Emirates	AED 469.75	₹11,807
Saudi Arabia	SAR 479.44	₹11,795
Kuwait	KWD 38.50	₹11,599
Qatar	QAR 469.00	₹11,877
Oman	OMR 49.80	₹11,942
Bahrain	BHD 48.40	₹11,858

Gold Rates In India:

The gold price in India stands at Rs 16,222 per gram for 24 karat gold (99.9% purity), Rs 14,870 per gram for 22 karat gold (91.6% purity), and Rs 12,167 per gram for 18 karat gold (75% purity).

Gold in India saw nearly 6.3% crash so far in March 2026.

Gold Prices Outlook:

As per ICICI Direct's latest note, gold prices may face short term pressure as rising crude oil prices driven by heightened geopolitical tension in the Middle East complicate the path towards policy easing by the United States Federal Reserve. Even so, any correction in gold prices can be viewed as an opportunity for gradual accumulation since the broader macroeconomic factors that support gold remain intact.

It added, over long periods of time, gold has shown more stable purchasing power compared to fiat currencies. While gold prices may experience short term fluctuations, its relative stability has made it an important asset for central banks as part of their reserve holdings.

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