Dubai gold rates hold at Dh530.25 as global prices hover near two-month peak
Silver advances as other precious metals trade in mixed territory
DUBAI – Dubai gold rates remained steady at their latest levels, keeping the precious metal firmly in focus as global prices hovered near a more than two-month high.
The Dubai Jewellery Group’s suggested retail jewellery rates showed 24K gold at Dh530.25 per gram, while 22K stood at Dh491 and 18K at Dh403.50. The rates were unchanged from the previous session, while international gold prices continued to draw support from shifting expectations around US interest rates and persistent geopolitical uncertainty.
Dubai gold rates
For the latest rates, 24K gold was priced at Dh530.25 per gram, 22K at Dh491 and 18K at Dh403.50 today. The same rates were recorded on Wednesday.
On Tuesday, 24K gold stood at Dh531.25, 22K at Dh492 and 18K at Dh404.25. Monday’s rates were lower, with 24K at Dh522.75, 22K at Dh484 and 18K at Dh397.75.
That means 24K gold has eased by Dh1 per gram from Tuesday but remains Dh7.50 above Monday’s level. The 22K rate is also Dh1 below Tuesday and Dh7 higher than Monday, while 18K gold is Dh0.75 lower than Tuesday and Dh5.75 above Monday.
Global gold market
Internationally, spot gold was little changed at $4,408.55 an ounce after briefly gaining about 1 percent and reaching its highest level since June 5. US gold futures for December delivery were steady at $4,467.
The latest move followed US inflation data showing consumer prices rose 3.4 percent in the year to July, down from 3.5 percent in June and in line with expectations. Markets have subsequently reduced the probability of a Federal Reserve rate hike in September to about 40 percent from roughly 54 percent a week earlier.
A softer outlook for US rates can support gold by reducing the opportunity cost of holding the non-yielding asset. Attention has now shifted to the US Producer Price Index, which could provide another signal on inflation and the Fed’s next policy move.
Iran tensions
Geopolitical developments remain another key influence on precious metals. The US and Iran remain deadlocked over efforts to end the Gulf war, while uncertainty surrounding the Strait of Hormuz continues to weigh on energy markets and shipping activity. President Donald Trump has claimed the US controls the strategic waterway, a position disputed by Iran.
Oil prices slipped on Thursday as concerns about weaker global demand outweighed continuing supply risks. Brent crude was at $88.56 a barrel, while US West Texas Intermediate stood at $82.72. The decline followed a 17.4 million-barrel increase in US crude inventories, alongside downward revisions to 2026 oil demand forecasts from OPEC and the International Energy Agency.
Precious metals
Silver extended its advance, rising about 0.3 percent to $65.47 an ounce after reaching its highest level since June 22 in the previous session. Platinum declined 0.4 percent to $1,749.70, while palladium fell 0.5 percent to $1,362.10.