Dubai gold stays over Dh521 as global prices cross $4,320
Silver steadies after record high as prices hold near $62.48 per ounce
DUBAI – Dubai gold rates opened the week on a firm footing, with Monday’s prices reflecting continued strength in global bullion markets.
According to the Dubai Jewellery Group, retail gold prices were steady to higher at the start of trading, supported by international gains and a softer US dollar.
Gold has remained one of the strongest-performing assets this year, keeping local prices elevated across all popular carat categories.
Dubai gold prices
As of Monday, December 15, the suggested retail gold jewellery prices in Dubai stood at Dh521.25 per gram for 24K, Dh482.75 per gram for 22K, Dh462.75 per gram for 21K, Dh396.75 per gram for 18K, and Dh309.50 per gram for 14K. These rates are widely used across Dubai’s gold souks and jewellery retailers and are closely tracked by residents and visitors alike.
Global gold moves
In international markets, gold extended gains in early Monday trading as the dollar hovered near a two-month low and US Treasury yields edged lower. Spot gold rose to $4,320.65 an ounce, while US gold futures traded at $4,354.00 an ounce. Bullion has climbed around 64% so far this year, underlining its strong momentum amid shifting expectations around US monetary policy.
Markets remain focused on upcoming US jobs data after the Federal Reserve delivered a 25-basis-point rate cut last week, while signalling caution on further easing. Lower interest rate expectations tend to support non-yielding assets such as gold, adding to its appeal for global investors.
Tariffs and policy
Alongside monetary policy, trade developments and tariff expectations continue to influence precious metals. The softer dollar has made gold more attractive for overseas buyers, while uncertainty around US economic data has kept demand resilient. Broader regulatory changes, including moves in major Asian markets to widen institutional access to gold-linked products, have also contributed to stronger sentiment this year.
Other precious metals
Silver steadied after last week’s sharp moves, trading at $62.48 per ounce, having touched a record high of $64.65 on Friday. The metal is up 115% year to date, driven by tight inventories, strong industrial demand and its inclusion in the US critical minerals list.
Platinum slipped slightly to $1,741.82 per ounce, while palladium edged higher to $1,502.29 per ounce, reflecting mixed trends across the wider precious metals complex.