Dubai gold opens Dh5.25 lower as global bullion slips below $4,660
Silver, platinum and palladium decline amid inflation concerns
DUBAI – Dubai’s gold market began the week on a softer note, with retail rates across all major categories declining from last weekend’s closing levels.
The emirate’s gold trade continues to attract shoppers and investors with its globally competitive pricing, transparent retail structure and daily benchmark updates issued by the Dubai Jewellery Group.
Dubai gold rates
On Monday, 24K gold was priced at Dh563 per gram, down from Dh568.25 on Saturday. The decline of Dh5.25 per gram was mirrored across other categories. Rates for 22K gold dropped to Dh521.25 from Dh526.25, while 21K gold slipped to Dh499.75 from Dh504.50.
Meanwhile, 18K gold stood at Dh428.25 per gram compared with Dh432.50 at the weekend close, and 14K gold eased to Dh334 from Dh337.25.
Global markets
International gold prices also moved lower as investors reacted to renewed geopolitical and inflation concerns. Spot gold fell 1.2% to $4,657.89 per ounce during early trading, while US gold futures for June delivery dropped 1.4% to $4,665.70.
The decline followed mounting uncertainty surrounding US-Iran negotiations. US President Donald Trump reportedly rejected Iran’s response to a US peace proposal, weakening hopes for a near-term breakthrough in the conflict that has disrupted regional shipping and energy supplies.
The ongoing tensions have heavily impacted maritime movement through the Strait of Hormuz, a critical route for global oil shipments. Oil prices climbed as supply concerns intensified, adding fresh pressure to inflation expectations worldwide.
A stronger US dollar also weighed on bullion demand, making gold more expensive for holders of other currencies. Analysts have linked the recent pullback in gold to expectations that elevated oil prices could keep inflation higher for longer, potentially delaying interest rate cuts by the US Federal Reserve.
Investors are now closely watching upcoming US Consumer Price Index data for clearer signals on future monetary policy. Markets are also tracking developments in China after the country’s gold production declined during the first quarter of 2026 following safety inspections and temporary maintenance shutdowns at several smelters.
Other precious metals
Other precious metals also recorded losses in global trading. Spot silver slipped 0.2% to $80.13 per ounce, while platinum declined 1.2% to $2,029.95.
Palladium fell 0.7% to $1,481.09 per ounce as broader market sentiment remained cautious amid inflation and energy supply concerns.