Dubai gold climbs to Dh451.5, global prices hold near $3,741
China discounts widen while India holds premiums at festive highs
DUBAI – Dubai gold rates on Friday edged higher with 24K at Dh451.50 per gram, 22K at Dh418.25, 21K at Dh400.75, and 18K at Dh343.50, according to Dubai Jewellery Group data.
This compares with Thursday’s levels of Dh450.25 for 24K and Dh417.25 for 22K.
On Wednesday, 24K gold was at Dh454.25 and 22K at Dh420.50, while Tuesday saw 24K at Dh451.00 and 22K at Dh417.75. Earlier in the week on Monday, 24K had traded at Dh444.75 and 22K at Dh412.00.
Global trends
Globally, spot gold was at $3,741.21 per ounce on Friday morning, down 0.2% but still 1.6% higher on the week after peaking above $3,791 on Tuesday. US gold futures for December delivery held steady at $3,771.30.
Physical demand in China weakened further, with dealers widening discounts to $31–$71 per ounce against international benchmarks, compared with $21–$36 last week. In India, however, premiums remained firm at up to $7 per ounce as jewellers and bullion dealers prepared for the Dussehra and Diwali festival season.
Precious metals
Elsewhere in precious metals, spot silver fell 0.6% to $44.96 per ounce. Platinum gained 1.6% to $1,553.35, near its highest level in 12 years, while palladium advanced 1.4% to $1,267.13.
Global appetite for bullion continues to be influenced by US economic signals. Stronger-than-expected GDP and jobless claims data weighed on expectations of aggressive Federal Reserve rate cuts. At the same time, heightened geopolitical concerns and new US tariffs under President Donald Trump kept safe-haven demand resilient.