UAE Gold Prices Under Pressure From Strong Dollar Ahead of Fed Decision

Gold prices in the United Arab Emirates began trading on Wednesday, October 28, 2026, amid investor caution ahead of the US Federal Reserve’s interest rate decision.

A stronger dollar was weighing on the precious metal, while uncertainty over the Fed’s next move kept attention focused on the outlook for US monetary policy.

Gold, which is priced internationally in dollars, typically becomes more expensive for buyers using other currencies when the US currency strengthens. That can put pressure on demand and prices.

Interest rates are another key influence on bullion. Higher rates tend to reduce the appeal of gold, which pays no interest, while expectations of lower borrowing costs can provide support.

For investors tracking the UAE gold market, the Fed’s announcement and the dollar’s response remained the main developments to watch as Wednesday’s trading got underway.