Dubai gold rises Dh5 as silver and global markets face fresh pressure
Silver slips alongside bullion amid stronger dollar moves
DUBAI – Dubai gold rates continue to attract attention from shoppers and investors as the precious metal market responds to changing global economic signals.
Gold remains one of the most closely watched commodities in Dubai, with jewellery prices updated daily by the Dubai Jewellery Group based on international market movements.
Dubai gold rates
On Friday, retail gold prices in the emirate showed a slight increase compared with the previous session, reflecting a move in local rates despite pressure on global bullion prices.
According to the Dubai Jewellery Group’s suggested retail gold jewellery prices, 24K gold was listed at Dh483.25 per gram on Friday, compared with Dh480.75 per gram on Thursday. The rate for 22K gold stood at Dh447.50 per gram, while 21K gold reached Dh429.25 per gram and 18K gold was priced at Dh367.75 per gram. The 14K category was recorded at Dh287.00 per gram.
The latest rates marked a rise from Thursday’s prices, with 24K increasing by Dh2.50 per gram, 22K by Dh2.25, 21K by Dh2.50, 18K by Dh2 and 14K by Dh1.75. However, gold prices remained below levels recorded earlier in the week. On Wednesday, 24K gold was Dh493.25 per gram, while Tuesday saw it at Dh496.25 per gram and Monday recorded Dh503.75 per gram.
Global gold market
Internationally, gold prices remained under pressure on Friday as markets assessed expectations of tighter monetary policy in the United States. Spot gold was down 0.5% at $4,007.95 per ounce, while US gold futures for August delivery declined 0.6% to $4,024.10 per ounce.
Bullion was heading towards a fourth consecutive weekly decline, with prices on track for a weekly loss of around 3.6%. The decline came as a stronger US dollar reduced demand for gold among holders of other currencies. The dollar index was set for a second straight weekly gain after inflation data increased expectations of further interest rate increases.
US inflation data showed prices rose further in May, with inflation moving above 4% for the first time in three years. Higher inflation has increased expectations that the Federal Reserve may maintain a more restrictive approach, reducing the appeal of non-yielding assets such as gold.
Market attention also remained focused on geopolitical developments involving US President Donald Trump, Iran and tensions affecting energy markets. Concerns around the Iran conflict and the Strait of Hormuz, a key route for global oil shipments, have continued influencing sentiment across commodities, including energy and precious metals.
Other precious metals
Other precious metals also faced pressure during the week. Spot silver dropped 2.5% to $56.42 per ounce, while platinum declined 1.5% to $1,577.15 per ounce. Palladium slipped 0.4% to $1,179.26 per ounce. All major precious metals were heading towards weekly losses.