Dubai gold gains Dh1.25 after global bullion rebounds on easing Middle East tensions
Silver advances as precious metals track global market sentiment
DUBAI – Dubai's gold market began the week on a firmer footing as jewellery prices increased across all major purities after the weekend break.
The rise came alongside gains in international bullion markets, where investors responded to easing geopolitical tensions, a weaker US dollar and a sharp decline in oil prices.
Market attention is also shifting to a busy week of US economic data that could shape expectations for interest rates.
Dubai gold rates
According to the Dubai Jewellery Group's suggested retail rates for Monday, 24K gold was priced at Dh489.75 per gram, up from Dh488.50 previously. Meanwhile, 22K gold climbed to Dh453.50 per gram from Dh452.25, while 18K gold increased to Dh372.75 per gram, compared with Dh371.75.
The latest increase adds Dh1.25 per gram across the three most popular jewellery categories, giving buyers slightly higher entry prices as trading resumes for the week.
Dubai remains one of the world's leading gold retail markets, attracting residents and tourists alike with competitive pricing, transparent rates and a wide range of jewellery designs. Daily retail prices are closely watched by shoppers planning purchases, particularly during seasonal promotions and holiday periods.
Global gold markets
International gold prices also moved higher on Monday. Spot gold rose 0.4 percent to $4,055.76 per ounce, while US gold futures gained 0.9 percent to $4,054.00.
The advance followed a sharp fall in oil prices after US President Donald Trump said he had decided against launching fresh military strikes on Iran while diplomatic talks continue. Trump indicated discussions with Iran were expected to take place on Monday, easing immediate fears of a wider regional conflict.
Oil prices dropped more than 5 percent, reducing concerns that a prolonged conflict could fuel inflation through higher energy costs. At the same time, the US dollar weakened after authorities intervened in the foreign exchange market to support the Japanese yen, making dollar-priced gold more affordable for overseas buyers.
Despite the gains, investors remain focused on developments in the Middle East, including the Strait of Hormuz, a critical global oil shipping route that has remained under close watch throughout recent tensions. Market participants are also awaiting a series of US labour market reports this week, including job openings data, the ADP employment report, weekly jobless claims and the closely watched non-farm payrolls figures, all of which could influence expectations for future Federal Reserve interest rate decisions.
Other precious metals
Other precious metals also traded higher during Monday's session.
Spot silver rose 0.9 percent to $58.13 per ounce, extending gains alongside gold. Platinum advanced 0.5 percent to $1,649.35 per ounce, while palladium recorded the strongest move among the major precious metals, climbing 1.7 percent to $1,294.92 per ounce as broader investor sentiment improved.