Dubai gold rises Dh1.25, tracks global surge
Silver nears three-week peak amid global uncertainty
DUBAI – Dubai gold prices extended their upward momentum on Thursday, with 24K climbing to Dh625.75 per gram, according to the Dubai Jewellery Group.
The latest increase marks a Dh1.25 gain from Wednesday and caps a steady four-day rise that has added Dh4 since Monday.
The rally mirrors firm global bullion prices amid a softer dollar and heightened geopolitical focus.
Dubai gold rates
On Thursday, 22K was priced at Dh579.25, 21K at Dh555.50 and 18K at Dh476.25. The 14K rate stood at Dh371.50 per gram.
On Wednesday, 24K was Dh624.50, while Tuesday’s rate was Dh622.75 and Monday’s Dh621.75. Across the same period, 22K moved from Dh575.75 on Monday to Dh576.50 on Tuesday and Dh578.25 on Wednesday before reaching today’s Dh579.25.
Global gold market
Internationally, spot gold rose 0.5 percent to $5,195.99 per ounce by 0639 GMT, hovering near a more than three-week high touched earlier this week. US gold futures for April delivery slipped 0.2 percent to $5,213.50.
Bullion found support from a softer dollar, making dollar-denominated gold cheaper for overseas buyers. Markets are also digesting uncertainty surrounding US tariff policy after indications that rates for some countries could rise to 15 percent or higher from the newly imposed 10 percent.
Expectations of three 25-basis-point rate cuts by the Federal Reserve this year, as reflected in CME’s FedWatch Tool, have further underpinned sentiment. Weekly US jobless claims data due later on Thursday is being closely watched for signals on monetary policy direction.
Geopolitical developments remain in focus as the United States and Iran prepare for talks in Geneva aimed at addressing their longstanding nuclear dispute and avoiding further escalation.
Other precious metals
Silver edged 0.1 percent higher to $89.48 per ounce after striking a three-week high in the previous session. Platinum rose 0.8 percent to $2,305.20, while palladium eased 0.1 percent to $1,793.84, though both had earlier reached multi-week peaks.