Dubai gold jumps to Dh543.25 for 24K amid strong global bullion markets
Silver, platinum and palladium also post strong weekly moves
DUBAI – Dubai’s retail gold prices extended their upward run on Saturday, as international bullion hovered close to record highs and investors tracked global economic and political risks.
The Dubai Jewellery Group data showed all major carats gaining for the third straight session, leaving prices sharply higher compared with the start of the week.
The move follows strong momentum in global markets after US payrolls growth missed expectations and traders continued to price in interest rate cuts this year.
Dubai gold rates today
- 24K – Dh543.25
- 22K – Dh503.00
- 21K – Dh482.25
- 18K – Dh413.50
- 14K – Dh322.50
On Friday, January 9, 24K gold stood at Dh537.75, while 22K was Dh498.00, 21K Dh477.50, 18K Dh409.25 and 14K Dh319.25. This means 24K gold rose Dh5.50 per gram in one day, with similar Dh5 gains across most other categories.
Global gold markets
In global trade on Friday, spot gold was at $4,496.09 per ounce, up 0.5% on the day and set for a weekly gain of about 3.9%. US gold futures for February delivery settled at $4,500.90. Bullion had earlier touched a record high of $4,549.71 on December 26. US nonfarm payrolls for December increased by 50,000, below expectations of 60,000, while the unemployment rate eased to 4.4%, reinforcing expectations of at least two Federal Reserve rate cuts this year.
Beyond economic data, markets remained focused on geopolitical and trade developments, including unrest in Iran, the Russia-Ukraine conflict, developments involving Venezuela and ongoing uncertainty over President Donald Trump’s global tariff policies, with a US Supreme Court ruling expected on January 14. These factors continued to keep precious metals firmly in the spotlight as Dubai gold prices reflected the global rally.
Other precious metals
Silver, platinum and palladium also posted strong moves. Spot silver rose to $79.56 per ounce, marking a weekly gain of nearly 9.7%. Platinum climbed to $2,284.50 per ounce and palladium advanced to $1,814.93, with both metals on track for weekly increases. Bank of America has raised its 2026 average price forecasts for platinum and palladium, pointing to trade-related dislocations and tight physical markets.