Dubai gold hits record Dh542 per gram as global prices top $4,500
Silver posts strongest annual gains in decades amid investor rush
DUBAI – Dubai gold prices moved higher on Wednesday, with rates posted by the Dubai Jewellery Group showing a steady three-day climb across all major jewellery categories.
The increase follows gains recorded on both Tuesday and Monday, reflecting the sharp rally in global precious metals markets.
Retail prices in Dubai continued to track international trends as bullion reached historic levels.
Dubai gold rates
On Wednesday, the suggested retail price for 24-carat gold in Dubai stood at Dh542 per gram, up from Dh540 on Tuesday and Dh529.75 on Monday. 22-carat gold rose to Dh502 per gram, compared with Dh500 a day earlier and Dh490.75 at the start of the week.
21-carat gold was priced at Dh481.25, higher than Tuesday’s Dh479.50 and Monday’s Dh470.50. 18-carat gold increased to Dh412.50, up from Dh411 on Tuesday and Dh403.25 on Monday, while 14-carat gold reached Dh321.75, compared with Dh320.50 the previous day.
The steady rise places Dubai gold firmly on an upward midweek trajectory, with cumulative gains of more than Dh12 per gram for 24-carat gold since Monday.
Global gold markets
Internationally, gold surged past $4,500 an ounce for the first time on Wednesday, extending a rally that has lifted prices by more than 70% year to date, the strongest annual performance since 1979. Spot gold traded around $4,495-$4,512 an ounce during Asian hours after touching intraday record highs above $4,525. US gold futures for February delivery also hit fresh peaks above $4,520.
The rally has been supported by expectations of future US rate cuts, continued central-bank buying, trade and tariff uncertainty, and broader demand for safe-haven assets.
Other precious metals
Silver and platinum continued to outperform gold in percentage terms. Silver climbed above $72 an ounce, taking its year-to-date gains beyond 150%, while platinum rose to around $2,340 an ounce, marking an increase of roughly 160% so far this year. Palladium also advanced, trading near $1,916, its highest level in three years.