Dubai gold surges past Dh610 for 24K amid 2pc global spike
Silver gains as investors shift to precious metals
DUBAI – Dubai gold prices continued their rapid climb on Wednesday, tracking a powerful global rally in bullion markets.
The latest suggested retail jewellery rates from Dubai Jewellery Group show sharp increases across all purities, marking a three-day surge driven by geopolitical tension and strong safe-haven demand. The upward momentum comes as international gold prices record their biggest moves in years.
Dubai gold rates
As of Wednesday, 24K gold is priced at Dh611.75 per gram, up from Dh594.25 on Tuesday and Dh541.50 on Monday. That reflects a Dh70.25 rise since the start of the week.
22K stands at Dh566.50, compared with Dh550.25 on Tuesday and Dh501.50 on Monday.
21K has reached Dh543.25, up from Dh527.75 and Dh480.75 over the same period.
18K is now Dh465.50, while 14K has climbed to Dh363.25, both showing steady daily gains.
Global gold surge
Internationally, spot gold rose 2.7% to $5,071.79 per ounce in early Wednesday trade after jumping 5.9% in the previous session, its strongest daily gain since 2008. US gold futures for April delivery advanced 3.2% to $5,092.0. Bullion had already hit a record $5,594.82 last week.
The rally is linked to renewed US-Iran tensions after the US military shot down an Iranian drone in the Arabian Sea. Expectations of at least two US Federal Reserve rate cuts in 2026, alongside delayed US labour data and focus on ADP payroll figures, are also shaping investor positioning. Lower interest rate expectations tend to support non-yielding assets such as gold.
Other precious metals
Silver moved higher in tandem, gaining 3.2% to $87.84 per ounce, after touching a record $121.64 last week. Platinum added 2.9% to $2,273.70, while palladium rose 3% to $1,784.67, extending broad strength across the precious metals complex.