Dubai gold rises to Dh582.50 amid softer dollar trend
Silver jumps as precious metals rally worldwide
DUBAI – Dubai’s gold market continues to draw attention as prices extend their upward trend, reflecting both local demand and global economic signals.
Known for competitive pricing and transparency, the emirate’s gold trade remains closely tied to international bullion movements.
On Thursday, rates edged higher again, marking a steady climb through the week.
Dubai gold rates
According to Dubai Jewellery Group, Thursday’s gold rates per gram are: 24K at Dh582.50, 22K at Dh539.25, 21K at Dh517.00, 18K at Dh443.25 and 14K at Dh345.75.
Prices have risen compared to Wednesday, when 24K stood at Dh581.50 and 22K at Dh538.50. The upward movement is more pronounced when viewed across the week. On Tuesday, 24K was priced at Dh575.25, while Monday recorded Dh569.00, indicating a total increase of Dh13.50 per gram for 24K gold since the start of the week.
The steady gains highlight a strong upward trajectory, with each day posting incremental increases across all categories. The rise from Monday through Thursday reflects sustained buying interest and alignment with global bullion trends. Lower karat categories have mirrored this pattern, with 22K climbing from Dh526.75 on Monday to Dh539.25 today, and similar gains recorded across 21K, 18K and 14K.
Global trends
Internationally, gold prices moved higher on Thursday, supported by a softer US dollar and easing Treasury yields. Spot gold rose to $4,830.82 per ounce, while US futures reached $4,853.40. A weaker dollar has made gold more affordable for buyers using other currencies, boosting demand.
Markets are also reacting to geopolitical developments. Optimism around a potential US-Iran agreement and the possible reopening of the Strait of Hormuz has influenced investor sentiment. Diplomatic activity involving Pakistan and discussions linked to Lebanon have added to expectations of easing tensions in the region.
At the same time, traders are factoring in monetary policy signals. The likelihood of a US rate cut later this year is currently seen at 29%, influencing bullion’s appeal as lower interest rates reduce the opportunity cost of holding non-yielding assets such as gold.
Energy markets and inflation concerns remain part of the broader picture, as oil price volatility linked to Middle East developments continues to shape global economic expectations.
Other precious metals
Alongside gold, other precious metals also recorded gains. Silver rose to $80.61 per ounce, reflecting strong momentum, while platinum climbed to $2,143.08 and palladium to $1,592.84.