Dubai gold rates edge lower as global markets track US-Iran developments
Silver rises as precious metals respond to changing global conditions
DUBAI – Dubai gold remains one of the most closely watched commodities in the UAE, with prices updated regularly by the Dubai Jewellery Group based on global bullion movements and local market conditions.
The emirate’s gold market continues to reflect international trends, currency fluctuations and investor sentiment, making daily rate changes important for jewellery buyers and traders.
Dubai gold rates
According to the Dubai Jewellery Group’s suggested retail gold jewellery prices for Thursday, June 18, 24K gold was priced at Dh519.75 per gram, while 22K stood at Dh481.50 per gram. The 21K category was listed at Dh461.50 per gram, 18K at Dh395.75 per gram and 14K at Dh308.50 per gram.
The latest rates marked a small decline compared with Wednesday’s prices, when 24K gold was Dh521.25 per gram. On Wednesday, 22K gold was recorded at Dh482.50 per gram, 21K at Dh462.75 per gram, 18K at Dh396.75 per gram and 14K at Dh309.25 per gram.
Compared with Tuesday, prices also eased slightly. The 24K rate was Dh520.75 per gram, while 22K was Dh482.25 per gram, 21K was Dh462.50 per gram, 18K was Dh396.25 per gram and 14K was Dh309.25 per gram. On Monday, gold rates were higher, with 24K at Dh521.75 per gram, 22K at Dh483.00 per gram, 21K at Dh463.25 per gram, 18K at Dh397.00 per gram and 14K at Dh309.75 per gram.
Global markets
International gold prices moved higher on Thursday after recovering from losses in the previous session, supported by changing expectations around inflation and geopolitical developments. Spot gold climbed 1% to $4,298.48 per ounce, after falling 1.7% on Wednesday following signals from the US Federal Reserve that pointed towards a possible interest rate increase later this year.
Markets continued tracking developments after the United States and Iran released details of an interim agreement, which extended a ceasefire arrangement and raised expectations that tensions around the region could ease. Oil prices declined following the announcement, reducing some inflation concerns that had supported expectations of tighter monetary policy.
The US Federal Reserve kept its policy rate unchanged in the 3.50%-3.75% range, while projections showed that nine of 19 policymakers expect a rate increase this year. Traders also raised the probability of a December rate hike to 85%, according to the CME FedWatch Tool.
The dollar, interest rate expectations and energy prices remain key drivers for bullion markets. Higher interest rates often reduce gold’s appeal because the metal does not generate interest income, while lower inflation expectations can influence demand for safe-haven assets.
The Strait of Hormuz remains another closely watched factor for global markets, as any disruption in the major oil shipping route can influence energy prices, inflation outlooks and investor behaviour. Recent moves in crude prices have reflected shifting expectations around regional stability and supply conditions.
US political developments, including the role of President Donald Trump’s administration in international negotiations, have also remained part of wider market discussions as traders assess potential effects on commodities and currencies.
Other precious metals
Other precious metals also recorded gains on Thursday. Spot silver increased 1% to $68.69 per ounce, while platinum rose 0.9% to $1,752.45 per ounce. Palladium advanced 1.3% to $1,329.64 per ounce.
Silver continues to attract attention as both an investment asset and an industrial metal, with demand influenced by manufacturing activity, technology use and broader commodity market movements. Platinum and palladium prices are also closely linked to industrial applications, including automotive and energy-related sectors.