Dubai gold slips Dh3.75 as 24K holds near Dh578 mark
Silver gains track fourth weekly increase in commodities rally
DUBAI – Dubai’s gold market continues to reflect global economic currents, with retail prices adjusting daily in response to international trends.
The emirate remains one of the most closely watched bullion hubs, where rates issued by the Dubai Jewellery Group serve as a benchmark for shoppers and investors alike.
Price movements this week highlight a mix of geopolitical easing and currency fluctuations influencing demand.
Dubai gold rates
As of Friday, April 17, gold prices in Dubai are:
- 24K: Dh578.75 per gram
- 22K: Dh536.00 per gram
- 21K: Dh514.00 per gram
- 18K: Dh440.50 per gram
- 14K: Dh343.50 per gram
Compared to Thursday, April 16, rates have declined across all categories. 24K gold is down Dh3.75 from Dh582.50, while 22K has dropped Dh3.25. Similar marginal declines are seen in lower purities, reflecting a softer trend heading into the weekend.
Over the course of the week, gold has shown an overall upward trajectory despite the latest dip. On Wednesday, April 15, 24K gold stood at Dh581.50, before easing slightly on Thursday and further on Friday. Earlier in the week, Tuesday (Dh575.25) and Monday (Dh569.00) marked lower entry points, indicating a broader weekly gain of nearly Dh10 for 24K gold.
This pattern aligns with global bullion movements, where prices have remained elevated despite short-term corrections.
Global trends
Internationally, spot gold hovered around $4,797 per ounce on Friday, maintaining momentum for a fourth consecutive weekly gain. Markets have been reacting to easing geopolitical tensions, particularly developments involving Donald Trump and renewed expectations of talks with Iran. A ceasefire between Israel and Lebanon has further reduced immediate conflict risks in the region.
The Strait of Hormuz remains a focal point for oil flows, and any stability there has helped cool crude prices. Lower oil prices have, in turn, eased inflation concerns, influencing gold’s trajectory. Meanwhile, the US dollar has weakened for a second straight week, making gold more attractive to international buyers.
In Asia, India has temporarily halted gold and silver imports, leaving shipments pending due to regulatory delays. This has added another layer of uncertainty to global supply chains. In Pakistan and neighbouring markets, local demand continues to respond to currency pressures and international pricing trends.
Other precious metals
Silver has mirrored gold’s performance, rising to $79.12 per ounce and heading for its fourth weekly gain. Other precious metals have also advanced, with platinum reaching $2,092.07 and palladium climbing to $1,558.47.
These gains reflect broader investor appetite for commodities amid shifting economic expectations.