Dubai gold rises to Dh404.75 per gram amid global price rebound
Global spot gold strengthens after recent two-week low
DUBAI – Dubai’s gold market opened Monday with 24-karat priced at Dh404.75 per gram, up from Saturday’s Dh402.25.
The 22K rate stood at Dh374.75, 21K at Dh359.25, and 18K at Dh308.00. Last week’s session had seen 22K at Dh372.25, 21K at Dh357.00, and 18K at Dh305.75, showing steady upward movement.
Global gold prices
In international markets, gold rebounded from its lowest levels since the start of August. Spot gold gained 0.5% to $3,350.55 per ounce by 0353 GMT, while US gold futures for December delivery rose 0.4% to $3,396.90. Lower US Treasury yields contributed to the recovery, after investors had seen gold retreat to around $3,330 before buyers stepped in.
The yellow metal’s direction now hinges on high-stakes diplomacy. US President Donald Trump is set to host Ukrainian President Volodymyr Zelenskiy in Washington, with European leaders joining for broader discussions on a potential peace deal with Russia. This follows Trump’s Alaska summit with Russian President Vladimir Putin, where proposals reportedly included land swaps and security guarantees. Meanwhile, benchmark 10-year US Treasury yields eased from a recent high, adding support for non-yielding bullion.
Other precious metals
Market attention also extends to the Federal Reserve’s upcoming Jackson Hole symposium, where economists largely anticipate a September rate cut, possibly followed by another before year-end. Beyond gold, silver rose 0.4% to $38.13 per ounce, platinum gained 0.4% to $1,341.35, and palladium edged 0.6% higher to $1,118.80.