Dubai gold records Dh7.50 dip amid global market pressure
Silver gains track broader precious metals movement
DUBAI – Dubai’s gold market continues to mirror global trends, with retail rates adjusting swiftly to international cues.
Known for its competitive pricing and high purity standards, the emirate remains a key hub for gold trade, drawing both residents and tourists. Daily updates from the Dubai Jewellery Group provide a clear snapshot of shifting price movements across different karats.
The latest figures show a noticeable downward trend in retail prices over the course of the week, reflecting broader market pressures.
Dubai gold rates
On Thursday, 24K gold is priced at Dh547.25 per gram, while 22K stands at Dh506.75. Meanwhile, 21K is at Dh486.00 and 18K at Dh416.50, with 14K recorded at Dh325.00.
This marks a steady decline compared to previous sessions. On Wednesday, 24K was at Dh554.75, before dropping from Dh562.50 on Tuesday and Dh569.50 on Monday. Over four trading days, 24K gold has fallen by Dh22.25 per gram. Similar declines are reflected across other purities, signalling a consistent correction in local retail prices.
Global trends
Internationally, gold prices edged higher on Thursday after hitting a one-month low in the previous session. Spot gold rose 0.3% to $4,553.69 per ounce, while US futures hovered around $4,565.10.
Market sentiment remains influenced by inflation concerns and monetary policy signals. The Federal Reserve held interest rates steady, highlighting persistent inflation risks. At the same time, expectations of rate cuts have weakened, with traders now factoring in the possibility of tighter policy for longer.
Geopolitical tensions are also shaping price movements. Donald Trump has been involved in discussions around a potential blockade affecting Iran, raising concerns over energy supply disruptions. This has pushed Brent crude above $124 a barrel, fuelling inflation fears that typically influence gold’s appeal as a hedge.
Other precious metals
Precious metals broadly moved higher alongside gold. Spot silver gained 0.7% to $71.98 per ounce, reflecting renewed investor interest.
Platinum rose 1.8% to $1,912.12, while palladium recorded a modest increase to $1,462.72.