Dubai gold sees Dh4.50 slide in 24K rates amid global market shift
Silver weakens as precious metals react to rising oil prices
DUBAI – Dubai’s gold market remains one of the most closely watched in the region, with residents and tourists tracking daily movements for jewellery purchases and investment decisions.
The emirate’s pricing structure, shaped by international bullion trends and local demand, often turns Dubai into a benchmark for regional gold activity.
On Tuesday, buyers saw rates ease after a stronger start to the week.
Dubai gold rates
According to Dubai Jewellery Group’s suggested retail rates for May 26, 24K gold stood at Dh545.25 per gram, while 22K was priced at Dh505.00, 21K at Dh484.25 and 18K at Dh415.00. The 14K category reached Dh323.75 per gram.
Compared with Monday’s prices, gold recorded a decline across all major categories. On May 25, 24K gold traded at Dh549.75 per gram, meaning Tuesday brought a Dh4.50 decrease. The 22K category slipped by Dh4.25 from Dh509.25, while 21K dropped Dh4.00 from Dh488.25. Meanwhile, 18K gold declined by Dh3.50 and 14K edged down Dh2.75.
The retreat in Dubai mirrored developments in international bullion markets, where uncertainty over geopolitical tensions and monetary policy expectations shaped trading patterns.
Global markets
Spot gold fell 0.9% to $4,529.50 per ounce during Asian trading hours on Tuesday, while US gold futures for June delivery traded near $4,529.60. Market movements followed renewed tensions involving Iran after fresh US strikes were reported, adding pressure to broader financial markets.
Brent crude climbed more than 2%, with traders watching developments surrounding Middle East energy infrastructure and uncertainty over the Strait of Hormuz. Concerns over oil supply disruptions have reignited inflation worries, potentially influencing future US interest rate decisions.
At the same time, expectations around the US Federal Reserve shifted. Markets increasingly priced in a possible rate increase before year-end, while the stronger dollar environment and inflation concerns added pressure on non-yielding assets such as gold.
Other precious metals
Other precious metals also moved lower during Tuesday trading. Spot silver dropped 2.1% to $76.45 per ounce. Platinum lost 1% to $1,948.12, while palladium declined 1.4% to $1,378.89, extending a broader retreat across metals markets as investors assessed geopolitical risks and commodity volatility.