Dubai gold rates climb for 3rd day, 24K hits Dh610.75
Silver retreats after 4% surge in global trade
DUBAI – Dubai gold prices opened higher on Thursday, with 24K touching Dh610.75 per gram, according to the Dubai Jewellery Group.
The increase follows steady gains earlier in the week, keeping retail rates near record territory. All major categories posted advances compared to Wednesday, Tuesday and Monday levels.
On Thursday, 22K was priced at Dh565.50 per gram, 21K at Dh542.25, 18K at Dh464.75 and 14K at Dh362.50.
Dubai gold rates this week
Compared to Wednesday, 24K gold rose by Dh2.50 from Dh608.25. The 22K rate increased by Dh2.26 from Dh563.24, while 21K gained Dh2.25 from Dh540.00. The 18K category climbed Dh2.00 and 14K added Dh1.50 day-on-day.
The upward trend has been building through the week. On Tuesday, 24K stood at Dh606.50, meaning prices have risen Dh4.25 in two days. Monday’s rate was Dh607.50, reflecting some volatility before the latest rebound. Similar patterns were seen across other karats, with 22K moving from Dh562.50 on Monday to Dh565.50 today.
Global gold markets
Internationally, gold edged lower on Thursday as the US dollar strengthened following stronger-than-expected January jobs data. Spot gold slipped 0.3% to $5,063.11 per ounce by 0453 GMT, after closing more than 1% higher on Wednesday. US gold futures for April delivery fell 0.3% to $5,083.90 per ounce.
Data showed US job growth accelerated in January and unemployment fell to 4.3%. The robust labour figures reduced expectations of near-term Federal Reserve rate cuts, supporting the dollar index and pressuring dollar-denominated metals. Investors are now watching weekly jobless claims and upcoming inflation data for further direction.
The US budget deficit is projected to widen slightly to $1.853 trillion in fiscal 2026, adding to broader macroeconomic considerations. Currency strength and shifting rate expectations continue to shape short-term movements in bullion and other precious metals, with retail prices in Dubai reflecting global swings alongside local demand trends.
Other precious metals
Spot silver declined 0.8% to $83.32 per ounce after a sharp 4% surge in the previous session. Platinum slipped 0.8% to $2,113.79, while palladium rose 0.9% to $1,715.30.