Dubai gold hits Dh627.25 per gram as global bullion holds above $5,200
Safe-haven demand rises; silver trades around $88 per ounce
DUBAI – Gold prices in Dubai continued their upward movement on Wednesday, tracking gains in international markets as geopolitical tensions and inflation expectations kept bullion in focus.
Rates published by the Dubai Jewellery Group showed increases across all major categories.
The rise follows a steady global rally that has already pushed gold more than 20 percent higher this year.
Dubai gold rates
On Wednesday, Dubai’s retail gold jewellery prices were listed at Dh627.25 per gram for 24K, Dh580.75 for 22K, Dh557.00 for 21K, Dh477.25 for 18K, and Dh372.25 for 14K.
The latest figures mark a noticeable increase compared with the previous two trading days.
On Tuesday, March 10, rates stood at Dh623.00 for 24K, Dh576.75 for 22K, Dh553.00 for 21K, Dh474.00 for 18K, and Dh369.75 for 14K.
A day earlier, on Monday, March 9, prices were Dh617.50 for 24K, Dh571.75 for 22K, Dh548.25 for 21K, Dh470.00 for 18K, and Dh366.50 for 14K.
The three-day comparison shows the 24K price rising Dh9.75 since Monday, reflecting stronger global bullion prices.
Global bullion
Internationally, spot gold edged higher on Wednesday to $5,208.08 per ounce, gaining around 0.3 per cent, while US gold futures for April delivery were slightly lower at $5,216.80.
Investors are closely watching upcoming US economic data, particularly the February consumer price index and the Personal Consumption Expenditures inflation gauge, which is closely monitored by the Federal Reserve for policy signals.
Oil prices also influenced sentiment after reports that the International Energy Agency proposed releasing strategic reserves to stabilise energy markets. Crude slipped below $90 per barrel, easing some inflation pressure.
At the same time, geopolitical tensions continue to dominate headlines as the United States and Israel intensified airstrikes on Iran during the ongoing conflict. The escalation follows comments from US President Donald Trump predicting a possible quick end to the war.
Market tensions
The conflict has severely disrupted shipping through the Strait of Hormuz, one of the world’s most critical oil chokepoints, where roughly a fifth of global oil and liquefied natural gas normally passes.
With tankers stranded and producers facing storage limits, energy markets have remained volatile. Such uncertainty has traditionally boosted gold’s appeal as a safe-haven asset, supporting prices worldwide.
Other precious metals
Among other precious metals, spot silver slipped 0.1 percent to $88.35 per ounce, while platinum dropped 0.5 percent to $2,190.44.
Palladium moved higher, rising 0.8 percent to $1,667.73.