Dubai gold slips Dh8.5 as 24K retreats from record to Dh577.75
Silver, platinum and palladium ease after historic highs
DUBAI – Dubai gold prices moved lower on Thursday, with retail jewellery rates easing across all carats, according to figures issued by Dubai Jewellery Group.
The pullback follows Wednesday’s sharp climb that took local prices to record territory, mirroring a surge in global bullion markets. Despite the decline, prices remain significantly higher than levels seen earlier this week.
Dubai gold rates
As of Thursday, the suggested retail rate for 24K gold stands at Dh577.75 per gram, down Dh8.5 from Wednesday’s Dh586.25. 22K gold is priced at Dh535.00, compared with Dh542.75 a day earlier, while 21K stands at Dh513.00, easing from Dh520.50. 18K gold slipped to Dh439.75, down from Dh446.25, and 14K fell to Dh343.00 from Dh348.00.
The latest rates still reflect strong gains over the start of the week. On Tuesday, 24K gold was priced at Dh566.00 per gram, while Monday saw 24K trading at Dh562.00. This places Thursday’s price nearly Dh16 higher than Monday, despite the midweek correction. Similar movements were recorded across 22K, 21K and 18K categories, highlighting sustained volatility in the local market.
Global gold markets
Internationally, gold prices eased on Thursday after touching fresh all-time highs in the previous session. Spot gold slipped 0.8% to $4,796.75 an ounce, retreating from Wednesday’s record peak of $4,887.82.
US gold futures for February were also lower at $4,799.90 an ounce. The pullback followed easing geopolitical tensions after US President Donald Trump stepped back from new tariff threats and proposals involving Greenland and Denmark, alongside a firmer US dollar.
Goldman Sachs raised its December 2026 gold forecast to $5,400 an ounce, up from $4,900 previously, underscoring continued long-term optimism for the metal.
Other precious metals
Other precious metals also moved lower. Spot silver edged down to $93.19 an ounce, after hitting a record $95.87 earlier in the week.
Platinum fell nearly 2% to $2,433.50, easing from its all-time high of $2,511.80, while palladium slipped to $1,829.29.