Dubai gold prices today: 24K drops to Dh615 amid dollar strength, oil surge
Silver, platinum and palladium post gains in global trading
DUBAI – Dubai gold prices moved lower on Friday, easing after several days of fluctuations as global bullion markets reacted to a stronger dollar, surging oil prices and heightened geopolitical tensions.
According to the Dubai Jewellery Group, the suggested retail rate for 24K gold stood at Dh615.00 per gram on Friday (March 13). This marks a drop of Dh4.75 compared with Thursday’s Dh619.75.
Other retail rates also declined. 22K gold was priced at Dh569.50 per gram, down from Dh574.00 on Thursday. 21K gold fell to Dh546.00, compared with Dh550.25 a day earlier, while 18K gold slipped to Dh468.00 from Dh471.75. 14K gold was priced at Dh365.00, down from Dh368.00.
Dubai gold prices have been moving within a wide range through the week.
On Wednesday (March 11), the 24K rate stood at Dh627.25, before easing to Dh619.75 on Thursday. Earlier in the week, prices were Dh623.00 on Tuesday (March 10) and Dh617.50 on Monday (March 9).
Across the same period, 22K gold moved from Dh571.75 on Monday to Dh576.75 on Tuesday, then Dh580.75 on Wednesday, before declining to Dh574.00 on Thursday and Dh569.50 on Friday.
The fluctuations reflect global bullion trends, where prices have been reacting to currency movements, energy markets and geopolitical developments.
Global market
In international markets, spot gold traded around $5,112.82 per ounce, rising about 0.7% on Friday, while US gold futures for April delivery were slightly lower at $5,116.30.
Despite Friday’s rebound, bullion remained on track for a weekly decline of more than 1%. The drop came as a firmer US dollar reduced the appeal of gold, while expectations for near-term US interest rate cuts weakened.
Rising oil prices have also influenced the outlook. Crude surged above $100 per barrel after attacks on oil tankers in the Gulf and renewed warnings from Iran over the Strait of Hormuz, one of the world’s most critical energy shipping routes.
At the same time, US President Donald Trump again called on the Federal Reserve to reduce interest rates, though traders widely expect the central bank to keep rates unchanged in the 3.5%–3.75% range at its upcoming meeting.
Investors are also awaiting the delayed January Personal Consumption Expenditures Index, a key inflation gauge that could influence the Federal Reserve’s policy path.
Other precious metals
Other precious metals recorded gains in global trading.
Spot silver climbed about 1% to $84.59 per ounce, extending recent upward momentum in the broader metals market. Platinum rose 1.2% to $2,157.20, while palladium advanced 1.1% to $1,636.27.
Precious metals continue to track shifts in energy prices, currency strength and geopolitical risks, factors that have kept global commodity markets volatile through the week.