Dubai gold rates drop by Dh12 per gram as global prices slide below $4,000
Silver prices weaken as precious metals face renewed pressure
DUBAI – Dubai gold rates continued their downward movement on Thursday, with retail jewellery prices declining across all categories as international bullion markets faced pressure from a stronger US dollar.
The latest figures from the Dubai Jewellery Group showed gold prices falling compared with the previous three trading days, extending a recent slide in the precious metal market.
The decline came as investors assessed changing expectations around US interest rates, inflation concerns and geopolitical developments affecting global markets.
Dubai gold rates
Dubai Jewellery Group’s suggested retail gold jewellery prices on Thursday showed 24K gold at Dh480.75 per gram, down from Dh493.25 on Wednesday. The 22K rate stood at Dh445.25 per gram compared with Dh456.75 a day earlier, while 21K gold was priced at Dh426.75, lower than Wednesday’s Dh438. The price of 18K gold dropped to Dh365.75 from Dh375.50, and 14K gold declined to Dh285.25 from Dh292.75.
The latest rates also marked a continued fall from earlier in the week. On Tuesday, 24K gold was priced at Dh496.25 per gram, with 22K at Dh459.50, 21K at Dh440.50, 18K at Dh377.75 and 14K at Dh294.50. Monday’s rates were higher still, with 24K gold at Dh503.75 per gram, 22K at Dh466.50, 21K at Dh447.25, 18K at Dh383.25 and 14K at Dh299.
Global market
Internationally, spot gold remained under pressure on Thursday after falling to a more than seven-month low in the previous session. Spot gold was down 0.2% at $3,993.33 per ounce, while US gold futures for August delivery were steady at $4,008.30.
Bullion moved below the $4,000 mark for the first time since November 2025, with prices affected by rising expectations of US interest rate increases and continued strength in the dollar. The dollar remained near a 13-month high, making gold more expensive for buyers using other currencies and reducing demand for the non-yielding asset.
Market attention has focused on expectations that the US Federal Reserve could raise rates this year, with traders pricing in the possibility of multiple increases. High inflation pressures, including those linked to tensions in the Middle East, have added to concerns around future monetary policy decisions.
Geopolitical developments involving Iran, Israel and the wider Middle East have also remained a key factor for markets. Concerns around regional tensions, including risks linked to energy routes such as the Strait of Hormuz, have influenced oil markets and inflation expectations, keeping investors focused on global economic signals.
Other precious metals
Silver prices also weakened alongside gold, with spot silver falling 0.1% to $57.37 per ounce and remaining close to its lowest level since November 2025. Platinum declined 0.8% to $1,566.25 per ounce, while palladium edged 0.4% higher to $1,171.25 but stayed near a nine-month low.
Investors are now watching upcoming US inflation data, particularly the Personal Consumption Expenditures report, for further indications on the Federal Reserve’s interest rate path and the direction of precious metal markets.