Dubai gold climbs to Dh573.25 amid global market pressure
Silver gains amid shifting demand and currency pressures
DUBAI – Dubai’s gold market continues to capture attention as prices edge higher at the end of the week, reflecting both regional demand patterns and global financial shifts.
The latest rates released by the Dubai Jewellery Group show a modest uptick, even as international markets register slight pressure.
Despite short-term dips, bullion remains on track for a third consecutive weekly gain, underlining sustained investor interest.
Dubai gold rates
As of Friday, gold prices in Dubai stand at Dh573.25 per gram for 24K, Dh530.75 for 22K, Dh509.00 for 21K, Dh436.25 for 18K and Dh340.25 for 14K.
Compared to Thursday, prices have moved higher, with 24K gold rising from Dh569.00 and 22K from Dh526.75. The upward shift signals renewed buying activity after a midweek dip. On Wednesday, 24K gold was notably higher at Dh582.50, indicating that current levels still sit below the week’s peak.
Looking further back, Tuesday recorded Dh558.00 for 24K, while Monday opened at Dh561.50. The week has therefore been marked by sharp swings, with prices first dipping, then surging midweek, before stabilising towards the weekend. This volatility reflects broader global influences rather than local demand alone.
Global gold markets
Internationally, gold prices edged lower on Friday, with spot gold slipping 0.1% to $4,759.54 per ounce, while US futures declined to $4,782.70. A stronger dollar weighed on bullion, making it more expensive for buyers using other currencies.
At the same time, geopolitical uncertainty continues to shape sentiment. Fragility in the US-Iran ceasefire and tensions around the Strait of Hormuz remain key concerns for investors. Oil markets have reacted sharply, with Brent crude falling more than 11% this week amid optimism that supply routes could stabilise.
Economic data is also playing a central role. The US Personal Consumption Expenditures index rose 2.8% annually, while markets are increasingly pricing in the possibility of rate cuts later this year. Expectations of lower interest rates tend to support non-yielding assets such as gold, helping sustain its upward trajectory despite short-term corrections.
In Asia, physical demand presents a mixed picture. In India, buying has picked up slightly ahead of the Akshaya Tritiya festival on April 19, with dealers charging premiums of up to $9 per ounce. However, high prices continue to weigh on retail sentiment. In China, premiums have eased to $3–$5 per ounce due to softer jewellery demand, although central bank purchases continue to provide support.
Other precious metals
Among other precious metals, silver has emerged as a standout performer, rising 0.9% to $75.74 per ounce. Platinum, however, declined 2% to $2,061.06, while palladium slipped 1.2% to $1,539.43.