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CC/08-11Tuesday 11 August 2026The Gold & Metals Desk · Gold & Metals Desk · Gulf
Gold & Metals Desk · GulfGold & Metals · CC/08-11

AED 10.44 between two Dubai gold pages, and holding

Peg arithmetic on Kitco's 06:00 spot puts Dubai 24-carat gold at AED 516.31 a gram. LivePriceOfGold reads 516.26 and Goodreturns 526.75. Both pages moved with the metal today; the distance between them did not.

By The Gold & Metals Desk11 August 2026Brief 55 sec · Full read 3 min
PLATE IKey figures
The Dubai wedge · Goodreturns less peg arithmetic, dirhams a gram
11 AugustAED 10.44
10 AugustAED 10.66
7 AugustAED 1.08
Source Dubai 24-carat gold, 11 August
What changed

This paper reported yesterday that two widely quoted Dubai gold pages were publishing different quantities under one label, and left an open question about whether the distance between them would move. It has not.

What it means · The Desk’s View

A step you can name is a cost you can price, and the Gulf counter lane has now given the trade a number to work with. Two mornings ago the honest answer to what Dubai gold costs was that it depended which page you opened.

It still does, but the difference is no longer moving, and a stable AED 10.44 on a AED 516 metal is a fixed 2% that a jeweller can put into a quotation rather than discover at settlement. That is the difference between a spread and a surprise.

The instruction from yesterday stands and gets easier to follow today: quote the peg arithmetic beside whatever page you use, and if the two lanes ever converge or the wedge steps again, that is the event worth reacting to rather than the daily print.

The article3 sections · 440 words
Table I · The Dubai wedge · Goodreturns less peg arithmetic, dirhams a gram
Figure
11 AugustAED 10.44
10 AugustAED 10.66
7 AugustAED 1.08
Peg arithmetic is this desk's conversion of Kitco spot at the dirham's fixed 3.6725 rate. The step between 7 and 10 August was taken in one move on 8 August and has held since. Carat Capital graphics desk.  CC/2026/212

IFive fils from the arithmetic, ten dirhams from the counter

Kitco's live board at 06:00 New York time this morning, the reading this paper's tape now carries, puts gold at $4,372.80 an ounce.

At 31.1035 grams to the troy ounce that is $140.59 a gram, and at the dirham's fixed peg of 3.6725 to the dollar it is AED 516.31 a gram, both conversions this desk's arithmetic. LivePriceOfGold's Dubai board, timestamped 11 August at 10:04 UTC, reads AED 516.26.

That is five fils from the peg figure, about one hundredth of one per cent. Goodreturns' Dubai page, dated today, reads AED 526.75. The gap is a level, not a drift.

The three readings moved almost in lockstep overnight, which is the new information. Against yesterday's marks the peg figure added AED 3.72 a gram, LivePriceOfGold added AED 3.81 and Goodreturns added AED 3.50. All three moves sit inside AED 0.31 of each other.

Yesterday's article described a counter page that had stepped up AED 13.25 between 7 and 8 August against a metal move of AED 3.13 and then held flat for three days while spot kept moving. Today it tracked.

The step was a one-off repricing rather than a page that had stopped updating, and the wedge it opened has stayed where it was put.

IIThree readings, one overnight move

That wedge can now be dated. On 7 August the peg arithmetic gave AED 509.42 against Goodreturns at AED 510.50, a difference of AED 1.08. On 10 August the peg gave AED 512.59 against 523.25, a difference of AED 10.66.

Today it is AED 516.31 against 526.75, a difference of AED 10.44, or 2.02% of the metal. Three sessions at roughly AED 10.5 either side of a single AED 9.6 step taken on 8 August.

A margin that arrives in one move and then holds through a metal rally is a pricing decision, not a data lag, and it is the sort of thing a buyer can plan around once it has a number on it.

IIIThe wedge, dated

The metals themselves opened firmer against this paper's own previous mark.

The tape carries gold $4,372.80, silver $64.79, platinum $1,764.00 and palladium $1,362.00, each read at 06:00 New York time and each higher than the mark of record this paper set 24 hours earlier: gold by $31.40 or 0.72%, silver by $0.80 or 1.25%, platinum by $27.00 or 1.55%, palladium by $22.00 or 1.64%.

Those changes measure desk to desk across a day, not one trading session, and Kitco's own session line at the same moment read gold and silver lower on the day against its previous close. Two conventions, one price, and the tape states which it uses.

Fine gold is $140.59 a gram and the gold-to-silver ratio narrows to 67.49 from 67.84.

The depthMethod, sources, corrections · open what you need
01Method · the desk’s arithmetic+

Peg arithmetic is this desk's conversion of Kitco spot at the dirham's fixed 3.6725 rate. The step between 7 and 10 August was taken in one move on 8 August and has held since.

02Sources4 documents
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