Dubai gold climbs to Dh608.25 as global rates cross $5,050
Silver rallies 2.2% as dollar weakens
DUBAI – Dubai gold prices continued their upward movement on Wednesday morning, with 24K trading comfortably above Dh600 per gram as global bullion strengthened.
The latest rates issued by Dubai Jewellery Group show a clear rise compared to both Tuesday and Monday, reflecting firm international momentum.
Support from a weaker US dollar and lower Treasury yields kept sentiment positive across precious metals markets.
Dubai gold rates
On Wednesday, 24K gold opened at Dh608.25 per gram, rising from Dh606.50 on Tuesday and Dh607.50 on Monday.
The 22K variant climbed to Dh563.24, compared to Dh561.50 a day earlier and Dh562.50 at the start of the week.
Meanwhile, 21K reached Dh540.00, up from Dh538.50 on Tuesday and Dh539.25 on Monday.
The 18K category advanced to Dh462.75, against Dh461.50 and Dh462.25 over the previous two sessions, while 14K edged up to Dh361.00 from Dh360.00 and Dh360.50 respectively.
Global gold markets
Internationally, spot gold maintained its position above the key $5,000 mark. At 9.30am UAE time, bullion was trading at $5,053.49 per ounce, up 0.9 percent. Earlier in global trade, prices touched $5,056.82, while US gold futures for April delivery rose to $5,080.90 per ounce.
The upward move followed US data showing retail sales were unchanged in December, signalling a slowdown in consumer spending. The softer data pushed the US dollar index towards a two-week low and sent 10-year Treasury yields close to one-month lows, improving the appeal of non-yielding assets such as gold.
Markets are now awaiting January’s nonfarm payrolls report, with economists forecasting an increase of 70,000 jobs after December’s 50,000 gain. Investors are pricing in at least two 25-basis-point rate cuts in 2026, with the first widely expected around mid-year.
Silver gains
Silver outperformed gold, advancing 2.2 per cent to $82.44 per ounce after dropping more than 3 percent in the previous session. Platinum rose 1.4 percent to $2,116.25, while palladium gained 1.3 percent to $1,730.50.