Dubai gold prices jump as global gold breaks $4,400 for first time
Silver, platinum extend record momentum
DUBAI – Dubai gold prices opened higher on Monday, reflecting a powerful global rally that pushed bullion to record territory.
Local rates climbed across all categories as international prices broke above the $4,400 per ounce mark for the first time.
The gains underline strong demand for safe-haven assets at the start of the week, with investors closely tracking US monetary policy signals.
Dubai gold rates
In Dubai, 24-carat gold was priced at Dh529.75 per gram, keeping today’s rates firmly on top. The 22-carat variety stood at Dh490.75 per gram, while 21-carat gold traded at Dh470.50 per gram. Meanwhile, 18-carat gold was quoted at Dh403.25 per gram, marking a broad-based rise across retail categories in the emirate.
Global gold rates
The increase in Dubai prices mirrors international movements, where spot gold surged to an all-time high of $4,400.29 per ounce before easing slightly. At around 0500 GMT, spot gold was trading near $4,397 per ounce, still up sharply on the day. US gold futures for February delivery were also higher at about $4,430 per ounce, underscoring the strength of bullish sentiment across markets.
Gold has now gained roughly 67 percent year to date, marking its strongest annual performance since 1979. The rally has been driven by expectations of lower US interest rates, steady central bank purchases, and sustained demand from investors seeking protection against economic and geopolitical uncertainty.
Markets are currently pricing in further US Federal Reserve rate cuts over the coming years, despite cautious guidance from policymakers. Lower interest rate expectations tend to support non-yielding assets such as gold by reducing the appeal of bonds and the US dollar. Trade policy uncertainty, including renewed tariff discussions linked to former president Donald Trump’s economic stance, has also added to safe-haven demand.
A softer dollar has further supported prices by making gold cheaper for overseas buyers, reinforcing upward momentum in global markets.
Other precious metals
The rally has extended well beyond gold. Silver hit a record high of $69.44 per ounce, posting triple-digit gains so far this year and outperforming gold. Platinum climbed to $2,057 per ounce, its highest level in more than 17 years, while palladium rose to around $1,786, close to a three-year high. Together, the moves highlight strong momentum across the precious metals complex as 2025 draws to a close.