Dubai gold rates jump Dh12.50 to Dh581.50 as global prices ease
Silver edges higher alongside platinum and palladium moves
DUBAI – Dubai gold rates remained firmly elevated on Wednesday, with retail prices rising across all categories, even as global bullion eased slightly after touching a one-month high.
The upward movement in the emirate reflects recent gains in international markets earlier this week, alongside sustained demand in the region.
Data released by the Dubai Jewellery Group shows a clear upward trend over the past three days, with notable increases recorded since Monday.
Dubai gold rates
According to the latest figures, 24K gold climbed to Dh581.50 per gram, up from Dh575.25 on Tuesday and Dh569.00 on Monday. Similarly, 22K gold rose to Dh538.50, compared with Dh532.50 a day earlier and Dh526.75 at the start of the week.
Other categories also registered gains, with 21K reaching Dh516.25, 18K at Dh442.50, and 14K priced at Dh345.25 per gram. The steady rise highlights a consistent upward trajectory in Dubai’s retail gold market, driven largely by earlier global price strength and currency movements.
Global trends
Internationally, gold prices edged lower on Wednesday after touching their highest level in a month. Spot gold slipped 0.3% to $4,828.07 per ounce, while US gold futures hovered near $4,851.30. The decline follows a rebound in the US dollar, which had earlier fallen to a more than one-month low, making gold more expensive for holders of other currencies.
Market sentiment has also shifted amid developments involving Donald Trump and renewed prospects of talks with Iran. Hopes of easing tensions in the Middle East, particularly around the strategically vital Strait of Hormuz, have supported a broader risk-on mood in financial markets. Oil prices declined while equities advanced, reducing the immediate appeal of gold as a safe-haven asset.
Despite the midweek dip, bullion remains up around 1.6% this week, reflecting earlier gains driven by geopolitical uncertainty and expectations around U.S. monetary policy. Traders are currently pricing in a higher probability of a Federal Reserve rate cut compared with last week, adding another layer of influence on gold’s trajectory.
Other precious metals
In the wider precious metals market, silver posted gains, rising 0.8% to $80.15 per ounce, tracking gold’s earlier strength and improved investor sentiment. Platinum also advanced by 1.1% to $2,126.14, while palladium slipped marginally by 0.1% to $1,585.60.