Dubai gold jumps Dh4 per gram as global prices hold near $4,700
Silver eases from record while platinum and palladium slide
DUBAI – Dubai gold prices moved higher on Tuesday, reflecting firm global bullion markets and sustained safe-haven demand.
Rates published by the Dubai Jewellery Group showed gains across all major carat categories compared with Monday, keeping local prices close to recent highs. The uptick comes as international markets digest geopolitical tensions, tariff risks and a softer US dollar, all of which have supported precious metals.
Dubai gold rates today
As of Tuesday, January 20, suggested retail prices stood at Dh566 per gram for 24K gold, up from Dh562 on Monday. The 22K rate increased to Dh524 per gram from Dh520.25, while 21K rose to Dh502.50 from Dh499. Prices for 18K advanced to Dh430.75 per gram compared with Dh427.75 a day earlier, and 14K climbed to Dh336 from Dh333.50.
Global gold markets
Internationally, gold traded close to record territory in early Tuesday deals as investors continued to seek safety. Spot gold edged up 0.1 percent to $4,675.32 per ounce after touching an all-time high of $4,689.39 in the previous session. US gold futures for February delivery climbed 1.9 per cent to $4,680.30 per ounce, tracking robust demand amid heightened uncertainty.
Market sentiment has been shaped by escalating trade tensions and renewed tariff concerns linked to US policy signals. Developments involving Greenland, Denmark and the European Union added to unease in financial markets, encouraging flows into bullion. At the same time, the US dollar slipped to its lowest level in a week following a sell-off in US equities and government bonds, making gold more attractive to non-dollar investors.
Expectations around US monetary policy also remained in focus. The Federal Reserve is widely expected to keep interest rates unchanged at its late-January meeting, a backdrop that has continued to support non-yielding assets such as gold.
Other precious metals
Silver retreated from its latest peak, slipping 1.4 per cent to $93.33 an ounce after hitting a record high of $94.72 earlier in the session. Despite the pullback, silver remained near historic levels following a strong rally this month. Among other precious metals, spot platinum declined 1.8 percent to $2,331.20 an ounce, while palladium fell 2 per cent to $1,804.15.