Dubai gold rises for third day as 24K jumps to Dh558 amid global rally
Silver, platinum and palladium also post strong midweek moves
DUBAI – Dubai gold prices moved higher again on Wednesday, extending a three-day rally that has pushed retail rates to fresh monthly highs.
According to Dubai Jewellery Group pricing, the benchmark 24-karat gold rate rose to Dh558 per gram, up from Dh554 on Tuesday and Dh550.25 on Monday. The steady climb reflects both strong international bullion markets and a firmer global outlook for precious metals.
Across the jewellery market, all major categories posted similar gains. 22-karat gold increased to Dh516.75 per gram, compared with Dh513 on Tuesday and Dh509.50 on Monday. 21-karat gold advanced to Dh495.50, rising from Dh491.75 and Dh488.75 over the past two days. 18-karat gold was priced at Dh424.50, while 14-karat stood at Dh331.25, both marking their third consecutive daily increase.
Weekly gold moves in Dubai
The three-day comparison highlights the strength of the rally. From Monday to Wednesday, 24K gold has gained Dh7.75 per gram, while 22K is up Dh7.25 and 21K has risen Dh6.75. Lower-carat jewellery followed the same trajectory, with 18K up Dh5.75 and 14K gaining Dh4.50 over the same period.
The upward trend has kept Dubai’s retail market closely aligned with international bullion prices, which are trading near historic highs as demand for safe-haven assets remains elevated.
Global gold prices
Internationally, gold was holding just below record levels on Wednesday. Spot gold traded at $4,627.95 per ounce, after touching an all-time high of $4,634.33 in the previous session. US gold futures for February delivery were also firm at $4,635.60 per ounce, reflecting continued bullish momentum in bullion markets.
Silver was the standout performer, breaking new ground above $90 per ounce for the first time. Spot silver reached $90.95, after setting a fresh peak of $91.53 earlier, and has already risen nearly 28% in the first two weeks of 2026.
The rally in precious metals followed softer-than-expected US inflation data, with the core Consumer Price Index rising 0.2% month on month and 2.6% year on year in December. The figures strengthened expectations that the US Federal Reserve could begin cutting interest rates from mid-year, a move that typically supports non-yielding assets such as gold.
Other precious metals
Beyond gold and silver, other precious metals also recorded notable gains. Platinum climbed 4.7% to $2,432.80 per ounce, moving closer to its late-December record of $2,478.50. Palladium advanced 3.7% to $1,910.08 per ounce, continuing a broader rebound across the complex.