Dubai gold sees Dh9 surge as 22K touches Dh506.50 per gram
Silver slips as global metals react to stronger US dollar
DUBAI – Dubai’s gold market remains one of the region’s most closely watched indicators, with shoppers and investors following daily movements across jewellery rates and international bullion prices.
Changes in the emirate’s rates often mirror shifts in global markets, currency movements and geopolitical developments.
On Thursday, the latest prices from Dubai Jewellery Group showed a sharp move upward after a lower session a day earlier.
Dubai gold rates
Dubai Jewellery Group’s suggested retail prices on Thursday, May 21, placed 24K gold at Dh546.75 per gram, while 22K reached Dh506.50. Rates for 21K stood at Dh485.50, 18K at Dh416.25 and 14K at Dh324.50.
The latest figures marked a notable rebound from Wednesday, when 24K traded at Dh537.75 per gram. Thursday’s level represents a Dh9 increase in a single day. The rise was also reflected across other categories, with 22K climbing Dh8.50 from Dh498, while 21K rose Dh8 from Dh477.50.
However, the market remained below earlier levels seen this week. On both Tuesday and Monday, 24K gold stood at Dh547.25 per gram, with 22K at Dh506.75 and 21K at Dh486. Thursday’s rates therefore remained slightly under those levels, showing that the local market is still navigating broader international volatility.
Global markets
International gold prices meanwhile faced pressure from developments in the United States and global macroeconomic trends. Spot gold slipped 0.4 percent to $4,464.64 an ounce, touching its weakest level in around one and a half months. US gold futures for June delivery also declined 1 per cent to $4,466.40.
A stronger dollar and elevated US Treasury yields weighed on bullion demand. Benchmark 10-year Treasury yields hovered around more than one-year highs, increasing the opportunity cost of holding non-yielding assets such as gold. Markets also monitored signals surrounding President Donald Trump’s position on Iran and reports of progress in discussions involving Washington and Tehran.
Attention remained on tensions linked to Iran and the strategic Strait of Hormuz, a route carrying a significant share of global oil supplies. Energy market concerns and uncertainty surrounding oil flows continued to remain on traders’ radar.
Other precious metals
Other precious metals also reflected mixed movement. Spot silver fell 0.3 percent to $73.59 per ounce, while platinum eased 0.3 percent to $1,917.18.
Palladium moved in the opposite direction, gaining 0.7 percent to $1,366.35 as investors continued tracking broader market sentiment and shifts in demand patterns.