Dubai gold holds near Dh563.25 for 24K amid global shifts
Silver weakens as broader metals market softens
DUBAI – Dubai’s gold market continues to reflect movements in global bullion trends, with retail prices adjusting daily in response to international developments.
The emirate remains a major hub for gold trade, attracting buyers with competitive pricing and transparency.
Rates released by the Dubai Jewellery Group serve as a benchmark for retailers across the city.
Dubai gold rates
Gold prices in Dubai moved lower across all categories on Friday. The 24K rate was recorded at Dh563.25 per gram, down from Dh566.75 a day earlier, Dh573.00 on Wednesday, and Dh577.00 earlier in the week.
Similarly, 22K gold stood at Dh521.50, compared to Dh524.75 previously and Dh530.50 midweek. The 21K variant was priced at Dh500.00, while 18K and 14K were at Dh428.75 and Dh334.25 respectively. The data reflects a steady softening in retail rates over recent sessions.
Global trends
In international markets, gold edged lower, with spot prices at $4,683.13 per ounce, tracking a broader decline this week. The movement comes as oil prices surged, with Brent crude rising about 17% to above $105 per barrel amid tensions around the Strait of Hormuz.
Higher oil prices have intensified inflation concerns, reinforcing expectations that interest rates may remain elevated for longer. This dynamic typically pressures gold, as rising yields make other assets more attractive. The US dollar also strengthened over the week, adding further weight on bullion prices.
Geopolitical uncertainty remains in focus, particularly around stalled US-Iran talks. Statements from Donald Trump indicating no urgency for a deal have kept الأسواق on edge, influencing investor sentiment.
Other precious metals
Elsewhere, silver declined 0.5% to $75.07 per ounce, mirroring gold’s downward movement. Platinum slipped 0.7% to $1,991.72, while palladium edged slightly higher by 0.1% to $1,469.04.