Dubai gold prices steady at Dh526.25 for 24K despite global slide
Silver, platinum extend losses as dollar strengthens
DUBAI – Dubai’s gold market continues to reflect stability at the retail level even as global bullion prices remain under sustained pressure.
Rates released by the Dubai Jewellery Group for Monday, March 24, show no change compared to the previous day, offering a rare pause for buyers despite significant volatility in international markets.
The contrast highlights the emirate’s steady pricing environment against a backdrop of falling global demand and macroeconomic uncertainty.
Dubai gold rates
The latest suggested retail gold jewellery prices in Dubai, as of Tuesday, remain unchanged from Monday levels.
- 24K: Dh526.25 per gram
- 22K: Dh487.25 per gram
- 21K: Dh467.25 per gram
- 18K: Dh400.50 per gram
- 14K: Dh312.25 per gram
On Monday, rates were identical across all categories except 14K gold, which was marginally higher at Dh312.50 per gram. The slight dip of Dh0.25 in 14K reflects minor adjustments, while all other categories held firm.
The stability comes despite global pressures, reinforcing Dubai’s position as a relatively consistent retail gold market driven by local demand dynamics and inventory cycles.
Global trends
Internationally, gold prices extended losses for a tenth consecutive session on Tuesday. Spot gold declined 1.5% to $4,340.63 per ounce, continuing a sharp downward trend that has seen the metal lose roughly 22% over ten sessions. Earlier, prices touched $4,097.99, the lowest level since late November, before recovering slightly.
The downturn is largely attributed to a stronger US dollar and fading expectations of near-term Federal Reserve rate cuts. A stronger dollar makes gold more expensive for investors holding other currencies, dampening demand.
Geopolitical developments have also influenced sentiment. Tensions surrounding the Iran conflict remain in focus, with Tehran denying negotiations with Washington after US President Donald Trump postponed potential strikes on Iranian infrastructure. Oil prices have stayed above $100 per barrel, adding inflationary pressure globally.
Despite gold’s traditional role as a hedge against inflation, expectations of prolonged higher interest rates have weighed on the non-yielding asset. Markets are increasingly pricing in tighter monetary policy, further limiting gold’s appeal.
Other precious metals
Other precious metals mirrored gold’s decline, signalling broader weakness across the sector. Spot silver dropped 3.4% to $66.80 per ounce, while platinum fell 2.1% to $1,841.68. Palladium also declined, shedding 2.7% to $1,395.25.
The synchronised fall across metals reflects the combined impact of dollar strength, shifting rate expectations, and geopolitical uncertainty.