Dubai gold holds near Dh566 as global markets watch Trump and China
Silver, platinum and palladium shift amid inflation and policy signals
DUBAI – Dubai’s gold market continued to hold its place as one of the region’s busiest hubs on Thursday, with shoppers and investors keeping a close watch on price movements across jewellery counters and global bullion markets.
The emirate’s retail rates often mirror international shifts in sentiment, making daily movements significant for buyers planning purchases and traders following broader market trends.
Recent sessions have shown a mix of stability and sharp swings, reflecting geopolitical developments and global economic uncertainty.
Dubai gold rates
According to Dubai Jewellery Group rates issued on Thursday, 24K gold stood at Dh566.50 per gram. Meanwhile, 22K traded at Dh524.75, 21K reached Dh503.00 and 18K was priced at Dh431.25 per gram. The 14K rate came in at Dh336.25.
Compared with Wednesday, Dubai rates registered modest gains. On May 13, 24K gold was priced at Dh566.25, while 22K stood at Dh524.25, 21K at Dh502.75, 18K at Dh430.75 and 14K at Dh336.00.
Tuesday had seen a broader decline, with 24K at Dh567.50, 22K at Dh525.50, 21K at Dh504.00, 18K at Dh432.00 and 14K at Dh337.00. Looking further back to Monday, prices were considerably lower, with 24K at Dh563.00 and 22K at Dh521.25.
The comparison places Thursday’s 24K rate Dh0.25 above Wednesday levels, Dh1 below Tuesday and Dh3.50 higher than Monday. The fluctuations underline a market reacting quickly to shifts in global sentiment.
Global markets
Internationally, spot gold remained largely steady at $4,689.49 an ounce, while US gold futures for June delivery slipped 0.2 percent to $4,696.40. Market attention remained fixed on discussions involving US President Donald Trump and Chinese President Xi Jinping, with investors watching developments linked to trade relations and the conflict involving Iran.
Broader geopolitical concerns also remained on traders’ radar. Markets continued to assess tensions surrounding Iran and regional shipping routes including the Strait of Hormuz, a critical channel for global oil movement. Oil market sensitivity often feeds into inflation expectations and safe-haven demand, creating knock-on effects for gold and currency markets.
Fresh US economic data added another layer to market calculations after producer prices recorded their biggest increase in four years, reinforcing concerns over inflation and the direction of interest rates. A stronger dollar and expectations surrounding Federal Reserve policy also remained influential factors.
Other precious metals
Other precious metals moved lower during global trading. Spot silver slipped 0.9 percent to $87.19 per ounce.
Platinum eased 0.2 percent to $2,133.35, while palladium edged up 0.1 percent to $1,501.25 as traders continued to assess shifting demand and wider economic signals.