Dubai gold rates jump to Dh575.25 for 24K as global prices rebound
Silver prices gain amid easing oil and dollar weakness
DUBAI – Dubai gold rates moved higher on Tuesday, tracking gains in the international market as bullion rebounded from recent lows.
Retail prices released by the Dubai Jewellery Group showed a clear uptick across all karats, reflecting renewed momentum driven by global macroeconomic shifts.
The rise follows a softer US dollar and easing oil prices, both of which have supported gold’s appeal among investors navigating geopolitical uncertainty.
Dubai gold rates
As of Tuesday, retail gold prices in Dubai stood at Dh575.25 per gram for 24K, marking an increase of Dh6.25 compared to Monday’s Dh569.00. Other categories also recorded gains, with 22K at Dh532.50, 21K at Dh510.75, 18K at Dh437.75, and 14K at Dh341.50.
On Monday, rates were lower across the board, with 22K at Dh526.75, 21K at Dh505.00, 18K at Dh433.00, and 14K at Dh337.75. The consistent rise highlights how closely Dubai’s retail gold market mirrors international price movements.
Global trends
Globally, gold prices rebounded after hitting a near one-week low in the previous session. Spot gold rose 0.7 percent to $4,769.77 per ounce, while US gold futures climbed to $4,791.70. The upward movement came as the US dollar hovered near a one-month low, making gold more attractive for investors holding other currencies.
At the same time, oil prices slipped below $100 per barrel amid signs of possible dialogue between the United States and Iran. The easing of tensions around the Strait of Hormuz, a key global oil transit route, reduced concerns over supply disruptions and inflationary pressures. Lower oil prices tend to moderate inflation expectations, indirectly influencing gold demand.
Geopolitical developments remain a central driver. The US has initiated a blockade of Iranian ports, while Tehran has signalled potential retaliation, keeping markets on edge. However, ongoing diplomatic signals have injected cautious optimism, limiting sharp volatility in gold prices.
Other precious metals
In the broader precious metals market, silver outperformed gold, rising 2 percent to $77.05 per ounce. The metal continues to attract attention due to its dual role as both a safe-haven asset and an industrial commodity.
Platinum also edged higher, gaining 0.4 percent to $2,077.72, while palladium slipped slightly by 0.1 percent to $1,571.65. The mixed performance across metals reflects shifting investor sentiment amid fluctuating macroeconomic signals.