Dubai gold jumps to Dh610.75 as global prices race past $5,000
Silver smashes records as precious metals rally accelerates
DUBAI – Dubai’s gold market opened the week with sharply higher retail jewellery rates, tracking a historic surge in international bullion prices.
The Dubai Jewellery Group listed 24K gold at Dh610.75 per gram on Monday, with 22K at Dh565.75, 21K at Dh542.25, 18K at Dh464.75, and 14K at Dh362.50. The move reflects intense global momentum that has pushed gold into uncharted territory.
Local demand remains closely tied to international spot trends, currency moves and investor positioning.
Global gold surge
Internationally, gold blasted past the $5,000 per ounce mark for the first time. Spot prices touched a record $5,092.71 before easing to around $5,058, while US futures hovered near $5,056. The metal has climbed more than 17% this year after a 64% surge in 2025, supported by strong central-bank buying, large exchange-traded fund inflows and expectations of looser US monetary policy.
Safe-haven flows intensified amid geopolitical uncertainty and shifting trade policies. Markets reacted to tariff threats involving Canada and China, along with tensions linked to Greenland and Denmark. Currency moves also played a role, as a softer dollar made bullion more attractive to international buyers.
Trade developments remain central to sentiment. Proposed 100% tariffs targeting Canada in connection with trade relations involving China, alongside wider tariff rhetoric, have heightened volatility. Investors have rotated toward hard assets as confidence in traditional risk markets wavered, reinforcing gold’s appeal as a store of value during policy uncertainty.
Other precious metals
The rally extended well beyond gold. Silver hit an all-time high of $109.44 per ounce, later trading near $106.8, after already posting extraordinary gains last year.
Platinum reached $2,891.6 at its peak before easing to around $2,802.30, while palladium climbed to roughly $2,034.75, marking a more than three-year high.
Tight physical supply and investor flows continue to shape price action across the precious metals complex.