Dubai gold hits Dh402.50 as global prices rise
Transatlantic trade deal softens dollar, adds mixed pressure on the yellow metal
DUBAI: Gold prices in Dubai remained under mild pressure on Monday, continuing their descent from last week’s highs.
As of today, 24K gold stood at Dh402.50 per gram, marginally higher than Saturday’s Dh402.25, but still down Dh3.25 from Wednesday’s peak of Dh405.75.
Other categories followed suit: 22K gold was priced at Dh372.50, 21K at Dh357.25, and 18K at Dh306.25 – each registering a modest rise from the weekend but staying below midweek levels.
Global market pulse
Globally, spot gold rose 0.2% to $3,342.62 per ounce by 0421 GMT, after hitting its lowest point since July 17. US gold futures mirrored the gain, climbing to $3,342.90.
A softer dollar cushioned bullion prices as the US dollar index dipped 0.1%, making gold more appealing to international buyers.
The gains came despite improved investor risk appetite, following a US–EU trade agreement that avoided broader tariff hikes. The deal imposed a 15% import duty on most European goods – half of the originally planned rate – easing tensions but leaving key issues unresolved, including tariffs on alcoholic spirits.
Tariffs and talks
Market attention is also fixed on upcoming US–China negotiations in Stockholm, aimed at extending the current tariff truce. Meanwhile, the Federal Reserve’s policy meeting, set to conclude on Wednesday, is expected to leave benchmark interest rates unchanged in the 4.25%–4.50% range.
US President Donald Trump hinted at the possibility of rate cuts following what he termed a “positive” meeting with Fed Chair Jerome Powell, adding a layer of uncertainty to the week’s outlook.
Other precious metals
Silver also edged up 0.2% to $38.21 per ounce. Platinum rose 1.2% to $1,417.67, while palladium saw the sharpest jump, climbing 2.9% to $1,254.98.