Dubai gold climbs Dh2.50 as 24K reaches Dh522.25 per gram
Precious metals mixed amid Middle East ceasefire uncertainty
DUBAI – Dubai’s gold market opened higher on Tuesday, with retail rates posted by the Dubai Jewellery Group recording gains across all major categories.
The increase followed a relatively stable session in global bullion markets as investors weighed geopolitical developments in the Middle East, upcoming US inflation data and expectations for Federal Reserve policy.
Dubai remains one of the world’s most closely watched retail gold hubs, with residents, tourists and investors tracking daily movements in jewellery prices. The latest rates show continued strength in the local market after gold prices recovered from recent lows.
Dubai gold rates
According to the Dubai Jewellery Group’s suggested retail prices on Tuesday, 24K gold was priced at Dh522.25 per gram, while 22K stood at Dh483.50. The 21K rate reached Dh463.50 per gram and 18K gold was selling at Dh397.25. The 14K category was priced at Dh310.00 per gram.
Compared with Monday’s rates, gold recorded gains across the board. The 24K category increased by Dh2.50 per gram from Dh519.75, while 22K rose by Dh2.25 from Dh481.25. The 21K rate gained Dh2.25 from Dh461.25, 18K advanced by Dh1.75 from Dh395.50, and 14K climbed Dh1.50 from Dh308.50.
Global market
Internationally, gold prices were largely steady as traders assessed a fragile ceasefire between Israel and Iran. Spot gold edged up 0.1 percent to $4,333.91 per ounce, while US gold futures for August delivery slipped 0.1 percent to $4,358.80 per ounce.
Market participants continued to monitor developments after Israel and Iran said they had halted attacks on one another following an appeal by US President Donald Trump. However, uncertainty remained after Tehran warned it could resume hostilities if Israel continued strikes against Hezbollah targets in Lebanon.
Attention is also turning to US inflation figures due on Wednesday. The Consumer Price Index report is expected to provide further clues about the Federal Reserve’s interest-rate path. Goldman Sachs now expects the Fed to leave rates unchanged through 2026 and postpone any rate cuts until 2027, citing resilient economic growth and labour market conditions.
Other precious metals
Other precious metals traded mixed. Spot silver fell 0.5 percent to $67.85 per ounce, reflecting cautious sentiment ahead of key economic data. Platinum eased 0.1 percent to $1,752.45 per ounce, while palladium gained 1 percent to $1,216.42.
Investors are also watching movements in the US dollar and oil markets, both of which remain important drivers for precious metals. Analysts note that shifts in energy prices, bond yields and currency markets could influence bullion demand in the weeks ahead as traders navigate inflation concerns and geopolitical risks.