Dubai gold rates jump Dh4.25 as 24K hits Dh567.50 per gram
Silver tracks global dip amid shifting investor sentiment
DUBAI – Dubai’s gold market continues to draw global attention as price movements reflect both regional demand and wider geopolitical pressures.
The emirate’s rates, guided by the Dubai Jewellery Group, remain a benchmark for retail buyers across the Gulf and beyond. This week, gold prices have shown noticeable volatility, mirroring global economic signals, currency movements and ongoing tensions in key oil routes.
Dubai gold rates
As of Saturday, April 25, retail gold rates in Dubai stand at Dh567.50 per gram for 24K, Dh525.50 for 22K, Dh504.00 for 21K, Dh432.00 for 18K and Dh337.00 for 14K.
Compared to Friday, April 24, prices have risen across all categories, with 24K gold up from Dh563.25, marking a Dh4.25 increase. The rebound follows a mixed week in which rates dipped midweek before recovering.
On Thursday, April 23, 24K gold was priced at Dh566.75, slightly higher than Friday’s level, while Wednesday, April 22 recorded a sharper peak at Dh573.00. Earlier in the week, Tuesday and Monday (April 21 and 20) both saw 24K gold at Dh577.00, representing the highest level in this period.
Overall, the data shows a decline from Monday’s Dh577.00 to Friday’s Dh563.25, followed by a partial recovery on Saturday. Similar patterns are reflected across 22K, 21K and lower purities, indicating consistent market-wide movement rather than isolated shifts.
Global trends
Internationally, gold prices have faced downward pressure, with spot gold trading near $4,697 per ounce after falling to a more than one-week low. The decline comes after a four-week rally, as investors reassess inflation risks and interest rate expectations.
Geopolitical tensions involving the United States and Iran, particularly around the Strait of Hormuz, have driven oil prices above $100 per barrel. Rising oil prices typically fuel inflation concerns, which can influence central bank policies. A stronger dollar has also weighed on gold, making it more expensive for holders of other currencies.
Market sentiment has further been shaped by expectations that the US Federal Reserve may delay interest rate cuts, increasing the opportunity cost of holding non-yielding assets such as gold.
In Asia, physical demand trends present a mixed picture. In India, gold premiums have surged to over $15 per ounce due to tight supply, despite softer demand following the Akshaya Tritiya festival. Meanwhile, China has seen renewed buying interest, with premiums rising to between $9 and $12 per ounce, signalling stronger consumer demand.
Other precious metals
Silver has mirrored gold’s downward trajectory in global markets, falling to around $75.55 per ounce during the week. The metal has been affected by the same macroeconomic pressures, including rising bond yields and a firmer dollar.
Platinum and palladium have also declined, with platinum dropping to near $2,008 per ounce and palladium falling to approximately $1,465.