Dubai gold prices ease to Dh539 after 3-day fall within 5-day swings
Silver jumps over 3% as bullion market shifts
DUBAI – Dubai’s gold market continues to reflect global volatility, with prices adjusting daily in response to currency movements, geopolitical tensions and shifting investor sentiment.
The emirate, long regarded as a benchmark hub for bullion trading, saw retail rates ease on Friday after midweek highs.
The latest figures from the Dubai Jewellery Group highlight a noticeable downward trend over the past two sessions.
Dubai gold rates
On Friday (March 27), gold prices declined across all categories:
- 24K: Dh539.00 (down from Dh544.50 on Thursday)
- 22K: Dh499.25 (down from Dh504.25)
- 21K: Dh478.50 (down from Dh483.50)
- 18K: Dh410.25 (down from Dh414.50)
- 14K: Dh320.00 (down from Dh323.25)
A broader look at the week shows how prices have shifted across all categories:
- Thursday (March 26): 24K Dh544.50, 22K Dh504.25, 21K Dh483.50, 18K Dh414.50, 14K Dh323.25
- Wednesday (March 25): 24K Dh547.25, 22K Dh506.75, 21K Dh485.75, 18K Dh416.50, 14K Dh324.75
- Tuesday (March 24): 24K Dh526.25, 22K Dh487.25, 21K Dh467.25, 18K Dh400.50, 14K Dh312.25
- Monday (March 23): 24K Dh526.25, 22K Dh487.25, 21K Dh467.25, 18K Dh400.50, 14K Dh312.50
Across the week, all gold categories followed a similar trajectory, rising sharply midweek before easing on Thursday and Friday. The declines from Wednesday to Friday were consistent across 24K, 22K, 21K, 18K and 14K, reflecting broader global pressures rather than isolated movements in a single category.
Global trends
Internationally, gold rebounded on Friday, rising about 2% to around $4,466 per ounce, supported by a softer dollar and renewed bargain buying. However, the metal remains on track for a fourth consecutive weekly decline, down roughly 0.5% overall.
The weakening of the dollar made gold cheaper for investors holding other currencies, helping prices recover slightly. Still, broader pressures persist. Since the outbreak of the US-Israeli war on Iran, gold has fallen nearly 16%, largely due to a stronger dollar and elevated global uncertainty.
Energy markets continue to play a decisive role. Brent crude remains above $105 per barrel, driven by disruptions around the Strait of Hormuz. Higher oil prices are fuelling inflation concerns, which typically support gold as a hedge. Yet expectations of prolonged high interest rates are limiting upside momentum.
Markets currently anticipate no US rate cuts in 2026, with even a possibility of hikes later in the year. Meanwhile, Donald Trump has extended a pause on strikes targeting Iran’s energy infrastructure, though tensions remain unresolved.
In Asia, demand patterns show mixed signals. In India, softer prices have attracted some buyers, though many remain cautious, expecting further declines. Discounts have narrowed to $61 per ounce from $75 last week. In China, premiums have eased to $14-$18 per ounce, indicating softer physical demand despite continued central bank support.
Other precious metals
While gold has struggled for direction, other precious metals have posted stronger gains. Spot silver surged over 3% to $70.10 per ounce, outperforming gold in percentage terms. Platinum rose 3.5% to $1,891.02, while palladium climbed 3.3% to $1,398.30.
The broader rally in metals reflects renewed investor interest in alternative stores of value amid ongoing geopolitical and economic uncertainty, even as gold itself faces resistance from high interest rate expectations.