Dubai gold prices rise by Dh2.25 as 24K hits Dh508
Record silver levels steer attention toward wider precious metals shifts
DUBAI – Dubai gold prices strengthened on Friday, with the Dubai Jewellery Group reporting higher rates across all major categories.
Today, 24K opened at Dh508 per gram, up from Dh505.75 on Thursday, Dh508.75 on Wednesday, Dh508.25 on Tuesday and Dh508.00 on Monday.
The week’s movement reflected a narrow but active trading pattern, shaped by shifting Treasury yields and a softer dollar globally.
Dubai gold prices
Friday’s rates placed 22K at Dh470.50, compared with Dh468.25 on Thursday, Dh471.25 on Wednesday, Dh470.75 on Tuesday and Dh470.25 on Monday.
Meanwhile, 21K stood at Dh451.00, moving up from Dh449.00, after having reached Dh451.75 mid-week, while 18K settled at Dh386.75 versus Dh384.75 on Thursday.
The 14K category recorded Dh301.50, from Dh300.25, following mid-week levels of Dh302.00, Dh301.75 and Dh301.50.
Global gold markets
In global markets, spot gold held close to $4,215.92 per ounce after hovering flat during early Asian hours. The metal was pacing for a 0.3% weekly decline as higher US Treasury yields countered the effect of a weakened dollar.
US gold futures stood at $4,245.70 per ounce, edging slightly higher. Treasury yields were trading near two-week highs, while the dollar hovered near a five-week low, maintaining bullion’s appeal for international buyers.
Investors monitored US labour data, including jobless claims falling to 191,000, a more-than-three-year low, and private payrolls declining 32,000, the sharpest fall in over two years.
Other precious metals
Elsewhere in precious metals, silver rose 1% to $57.68, heading for a weekly gain after touching a record $58.98 earlier in the week. Platinum traded at $1,644.04, while palladium climbed 1.1% to $1,464.70, positioning for a positive weekly finish.