Dubai gold rates rise Dh1.25 as 24K reaches Dh539.75 per gram
Silver edges higher as precious metals extend gains
DUBAI – Dubai’s gold market opened higher on Thursday, reinforcing the emirate’s reputation as one of the world’s most closely watched retail bullion hubs.
Gold prices in the UAE continue to track movements in international markets, where investors are balancing geopolitical developments, currency fluctuations and expectations for US interest rates.
The latest rates from the Dubai Jewellery Group show a modest recovery after a sharp decline earlier in the week.
Dubai gold rates
According to the Dubai Jewellery Group’s suggested retail jewellery prices on Thursday, 24K gold was priced at Dh539.75 per gram, while 22K stood at Dh500.00. The price of 21K gold reached Dh479.25 per gram, 18K was at Dh410.75 and 14K traded at Dh320.50 per gram.
The latest figures represent an increase from Wednesday’s levels, when 24K gold was priced at Dh538.50 per gram. The rise of Dh1.25 per gram was mirrored across other categories, with 22K gaining Dh1.50, 21K adding Dh1.25, 18K increasing by Dh1.00 and 14K rising by Dh1.00.
Despite Thursday’s rebound, gold remains below the levels seen earlier in the week. On Tuesday, 24K gold stood at Dh544.25 per gram and on Monday it was Dh544.00. This means the current 24K rate remains Dh4.50 lower than Tuesday and Dh4.25 below Monday’s level, highlighting the volatility that has characterised bullion trading over recent sessions.
Global gold markets
Internationally, spot gold rose 0.8 percent to $4,468.84 per ounce on Thursday morning, while US gold futures for August delivery gained 0.7 percent to $4,495.70 per ounce.
A softer US dollar helped support bullion by making dollar-denominated gold more affordable for buyers using other currencies. At the same time, lower oil prices contributed to the upward move in precious metals markets.
Investors have been assessing renewed optimism surrounding a possible easing of tensions involving Iran. The Trump administration announced that Israel and Lebanon had agreed to implement a ceasefire, raising hopes that a broader agreement involving Iran could eventually emerge. Meanwhile, the US House of Representatives approved a resolution aimed at preventing further US military involvement in the conflict.
Attention also remains focused on the Strait of Hormuz, a vital route for global energy supplies. Any developments affecting regional security, oil shipments or broader Middle East stability continue to influence investor sentiment across commodity markets.
Other precious metals
Silver also moved higher, with spot prices rising 0.6 percent to $73.13 per ounce. Other precious metals recorded gains as well, with platinum advancing 0.9 percent to $1,875.70 per ounce and palladium adding 0.3 percent to $1,306.
Market participants are also monitoring signals from the US Federal Reserve after New York Fed President John Williams reiterated that there is currently no need to alter monetary policy. Interest-rate expectations remain a key factor for bullion markets, as lower rates generally enhance the appeal of non-yielding assets such as gold and silver.