Dubai gold drops Dh7 as 24K falls to Dh562.50
Precious metals ease as oil and dollar strengthen
DUBAI – Dubai’s gold market remains a key benchmark for regional jewellery pricing, with daily rates closely tracked by retailers and investors alike.
The emirate’s pricing, guided by the Dubai Jewellery Group, reflects both international market movements and local demand patterns.
With its tax advantages and competitive margins, Dubai continues to attract buyers even during periods of volatility.
Dubai gold rates
On Tuesday, retail gold prices recorded a noticeable decline across all categories compared to Monday. The price of 24K gold dropped to Dh562.50 per gram, down from Dh569.50, marking a Dh7 decrease. Similarly, 22K gold fell to Dh520.75 from Dh527.25, while 21K declined to Dh499.25 from Dh505.50.
Lower purity variants also followed the trend, with 18K priced at Dh428.00 compared to Dh433.25, and 14K at Dh333.75, down from Dh338.00. The across-the-board reductions highlight a broader cooling in bullion prices after recent highs.
Global trends
Internationally, gold prices edged lower as geopolitical and economic factors continued to influence investor sentiment. Spot gold slipped 0.2 percent to $4,670.89 per ounce, while US gold futures fell to $4,684.70. Developments surrounding Donald Trump and ongoing tensions with Iran have kept markets cautious, particularly with stalled negotiations affecting stability in the region. The partial disruption of the Strait of Hormuz has also driven oil prices above $109 per barrel, reinforcing inflationary concerns.
At the same time, the US dollar strengthened, placing additional pressure on gold. Investors are closely watching central bank decisions, especially from the Federal Reserve, which is widely expected to hold interest rates steady. Higher rates tend to reduce gold’s appeal, as yield-bearing assets become more attractive.
Other precious metals
Other precious metals mirrored gold’s downward trend. Spot silver fell 1.2 percent to $74.61 per ounce, reflecting similar market pressures.
Platinum held steady at $1,984.19, while palladium declined 0.9 percent to $1,463.
The movement in silver, often seen as both an industrial and investment metal, signals cautious sentiment across commodities as investors navigate geopolitical uncertainty and monetary policy expectations.