Dubai gold holds above Dh610 after $5,110 global price shock
Silver rally accelerates alongside bullion’s safe-haven momentum
DUBAI – Dubai gold prices remained elevated on Tuesday, with the 24K rate holding above the Dh600 mark despite a marginal day-on-day dip.
Rates released by Dubai Jewellery Group show slight easing compared with Monday, even as international bullion markets continue to trade near historic highs.
The local market is tracking global sentiment driven by geopolitical tension, tariff threats and strong safe-haven demand.
Dubai gold rates
As of Tuesday, 24K gold is priced at Dh610.50 per gram, down from Dh610.75 on Monday. The 22K rate stands at Dh565.25, compared with Dh565.75 a day earlier. Meanwhile, 21K gold slipped to Dh542.00 from Dh542.25, 18K to Dh464.50 from Dh464.75, and 14K to Dh362.25 from Dh362.50. The changes reflect minor retail adjustments rather than a shift in the broader upward trend dominating global bullion trade.
Global gold surge
Internationally, spot gold traded at $5,060.36 per ounce early Tuesday after touching a record $5,110.50 in the previous session. US gold futures for February delivery stood at $5,056.90 per ounce. The metal’s rapid climb above the $5,100 level marks an unprecedented phase, supported by heightened geopolitical uncertainty and investor demand for defensive assets.
Trade tensions remain a key driver. The United States signalled higher tariffs on imports from Canada and South Korea, while broader policy uncertainty and currency movements have added to volatility. A softer dollar has also made gold more attractive for overseas buyers.
Other precious metals
Silver is moving in tandem with gold’s rally. Spot silver traded at $108.05 per ounce after striking a record $117.69 in the previous session, with gains exceeding 50 per cent so far this year.
Other precious metals showed mixed moves, with platinum at $2,647.39 per ounce and palladium at $1,953.69. Market attention remains on central bank policy signals and global trade developments shaping precious metals flows.