Dubai gold climbs to Dh508.50 as silver hits record $56.78 globally
Dubai jewellery prices reflect strong upward trend this week
DUBAI – Dubai’s retail gold prices continued their strong weekly climb on Saturday, showing consistent gains in all purity categories.
According to Dubai Jewellery Group, 24K gold stood at Dh508.50 per gram today, up from Dh504.75 on Friday and Dh500.25 on Thursday. The price has risen steadily from Dh487.25 last Saturday, marking a week-long upward trend across all grades.
22K gold was priced at Dh470.75 today, compared to Dh467.25 on Friday and Dh463.25 on Wednesday. Meanwhile, 21K reached Dh451.50, climbing from Dh448.00 on Friday and Dh444.25 two days earlier. The lower 18K category moved to Dh387.00, up from Dh384.00 on Friday and Dh380.75 midweek. These progressive increases reflect the sustained demand for gold across the region.
Global gold movement
Globally, spot gold reached $4,210.94 per ounce, a two-week high, registering 1.3% gains in the latest session. The metal is on track for a 3.6% weekly rise and 5.2% monthly increase, extending its fourth consecutive month of gains. US gold futures settled at $4,254.90 per ounce. Expectations of an imminent interest rate cut by the US Federal Reserve have been central to driving momentum in global markets.
Other precious metals
Recent trading interruptions at major commodity platforms briefly affected activity, but metals swiftly resumed trade. Silver reached a record-breaking $56.78 per ounce, jumping 6.1% in a single day and 16.6% over the month. Platinum advanced to $1,672.50, gaining 10.7% this week, while palladium rose to $1,450.16, up 5.6% for the week.