Dubai gold prices drop Dh4 as 24K hits Dh573 per gram
Silver climbs as global metals rebound on easing tensions
DUBAI – Dubai’s gold market continues to reflect swift global movements, with retail rates adjusting daily in line with international trends and currency shifts.
The emirate remains a key benchmark for jewellery pricing in the region, with rates issued by the Dubai Jewellery Group closely followed by traders and buyers alike.
Midweek pricing shows a notable shift after earlier stability, mirroring developments in oil, geopolitics and the US dollar.
Dubai gold rates
On Wednesday, Dubai gold rates declined across all categories. The price of 24K gold stands at Dh573.00 per gram, down from Dh577.00 on Tuesday and unchanged from Monday’s peak levels. Similarly, 22K gold dropped to Dh530.50 from Dh534.25, while 21K eased to Dh508.75 from Dh512.25. Lower-purity categories followed suit, with 18K at Dh436.00 and 14K at Dh340.00, both down from the previous day.
The comparison highlights a Dh4 per gram decline in 24K and a Dh3.75 drop in 22K over 24 hours, marking the first pullback after two consecutive days of stability. Monday and Tuesday rates had held firm at elevated levels, indicating that the current dip is driven by fresh global cues rather than local demand changes.
Global drivers
Internationally, gold prices edged higher on Wednesday, with spot gold rising 1.1 percent to $4,762.22 per ounce, while US futures climbed to $4,781. The uptick follows a decline earlier in the week and comes amid easing oil prices and shifting geopolitical sentiment.
The move is closely tied to developments involving Donald Trump and Iran, after Washington announced an indefinite extension of a ceasefire. The decision has reduced immediate concerns over supply disruptions in the Strait of Hormuz, a critical artery for global oil flows.
Oil prices weakened following the announcement, easing fears of inflation spikes. Lower crude costs typically reduce pressure on central banks to maintain higher interest rates, indirectly supporting gold by improving its appeal relative to yield-bearing assets. At the same time, a softer US dollar has added further support to bullion.
Other precious metals
Precious metals beyond gold also posted gains. Spot silver rose 2.2 percent to $78.38 per ounce, reflecting stronger investor interest. Platinum advanced 2.1 percent to $2,079.64, while palladium climbed 2.6 percent to $1,573.34.