Dubai gold surges over Dh13 as global prices climb
Silver climbs alongside platinum and palladium on softer dollar trend
DUBAI – Dubai’s gold market continues to reflect global movements, with retail rates set daily by the Dubai Jewellery Group serving as a key benchmark for buyers and traders.
Known for its transparency and competitive pricing, Dubai remains one of the most closely watched gold hubs in the region.
Rates have shown notable volatility this week, tracking shifts in international markets and geopolitical signals.
Dubai gold rates
On Wednesday, gold prices in Dubai recorded a strong increase across all categories. The rate for 24K gold rose to Dh560.00 per gram, up from Dh546.25 on Tuesday and Dh555.00 on Monday. Similarly, 22K gold climbed to Dh518.75, compared to Dh505.75 a day earlier and Dh513.75 at the start of the week.
Other categories followed the same upward trend. The 21K variant reached Dh497.25, up from Dh485.00 on Tuesday and Dh492.75 on Monday. Meanwhile, 18K gold increased to Dh426.25, and 14K stood at Dh332.50, both posting gains over the previous two sessions.
The latest rise reverses Tuesday’s dip and marks a significant rebound from earlier fluctuations, highlighting the sensitivity of Dubai’s retail market to global price movements.
Global trends
Internationally, gold prices surged by around 2 percent, with spot gold reaching $4,647.09 per ounce and US futures climbing to $4,658. The rally was largely driven by a weaker dollar and easing oil prices, which reduced inflation concerns and supported demand for bullion.
Market sentiment was also shaped by geopolitical developments involving Donald Trump, who signalled progress towards a potential agreement with Iran. A temporary pause in US efforts to escort ships through the Strait of Hormuz contributed to a decline in oil prices, lowering geopolitical risk premiums.
The softer dollar made gold more attractive for international investors, while reduced oil prices eased expectations of prolonged high interest rates. Investors are now closely watching upcoming US economic data, particularly labour market indicators, for further direction on monetary policy.
Other precious metals
Silver emerged as a standout performer among precious metals, rising 3.4 percent to $75.62 per ounce. Platinum also gained 2.4 percent to $1,999.95, while palladium increased 2.6 percent to $1,524.59.