Welcome to Al Nafaq Al Dhahabiu’s market update for Wednesday June 24. Today is an important day for anyone interested in gold. The price has dropped below $4,000 per ounce for the first time since November 2025, trading at approximately $3,988 — down more than 3% from yesterday. For our customers, this means the prices at our counter today are the most attractive we have seen in seven months. Here is our clear, friendly guide to what is happening and what it means for you.
Today’s prices:
24K: ~$128.00/gram | 22K: ~$117.33/gram | 21K: ~$112.00/gram | 18K: ~$96.00/gram
Why did the price drop so much today? Three things happened together. First, the US Federal Reserve is now widely expected to raise interest rates later this year — this made the US dollar much stronger, and a stronger dollar pushes gold prices down. Second, the US-Iran peace process is progressing, the Strait of Hormuz is reopening, and oil prices have fallen — which reduced the “safe-haven” demand for gold that comes during conflicts. Third, a drop in US technology stocks led some investors to sell gold to cover their losses. All three pushed gold below the important $4,000 level.
What does this mean for you as a buyer? It means opportunity. Gold is now about 20% below its record high from January, and a 50-gram gold necklace today costs roughly $2,589 less than it would have at that peak. For anyone planning a wedding, an engagement, or a special gift, these are the best prices in seven months.
Our honest guidance:
For weddings and gifts in the coming weeks: this is an excellent time to buy. Prices are at multi-month lows, and they may not stay this low.
For long-term savings: even with today’s drop, gold is still 20% higher than it was a year ago, and the world’s central banks are still buying it steadily. Buying during dips like this is a smart, time-tested approach.
For those who prefer caution: gold could move either way after Thursday’s US inflation data. If you are unsure, consider buying part of what you need now and part later — this way you benefit from today’s low prices while keeping some flexibility.
A reassuring point: The forces pushing gold down today — a strong dollar and Fed worries — tend to be temporary. The deeper reasons people buy gold, including steady central bank demand and gold’s long history of holding value, remain firmly in place. The world’s central banks added to their reserves again in April, and about 45% plan to buy more over the coming year.
Today’s prices represent a real opportunity for buyers who have been waiting for a better entry point. Please confirm the live price with us before purchasing, as the market is moving quickly today. Al Nafaq Al Dhahabiu will keep you updated as the week unfolds.
Today’s prices: 24K — $128.00/gram | 22K — $117.33/gram | 21K — $112.00/gram
All prices USD. Indicative only. Please confirm final pricing in store.
