Dubai gold slips below Dh400 as global prices bounce back
Tariff news and economic data drive global bullion recovery
DUBAI’s gold market saw a modest pullback in rates on Thursday, as 24K gold was priced at Dh397.50 per gram, down from Dh400.50 on Wednesday and Dh402.50 on Monday.
The drop suggests softer demand or profit-taking after early-week highs.
Among other categories, 22K gold was at Dh368.00, 21K at Dh353.00, and 18K at Dh302.50. These are below Wednesday’s rates, which stood at Dh371.00, Dh355.75, and Dh305.00 respectively, reflecting a two-day downward trend after midweek gains. Tuesday’s prices, by comparison, were Dh399.50 for 24K, Dh370.00 for 22K, Dh354.25 for 21K, and Dh303.50 for 18K.
Global gold price
Internationally, gold prices rebounded on Thursday, with spot gold rising 0.6% to $3,295.37 per ounce (as of 0424 GMT). This follows Wednesday’s dip to $3,267.79, the lowest since 30 June. US gold futures, however, edged down 0.2% to $3,289.30.
The uptick comes amid renewed global economic concerns. US President Donald Trump’s latest tariff decisions, including new levies on imports from Brazil, India, and South Korea, have reintroduced trade uncertainty. Trump confirmed a 15% tariff on South Korean goods, effective Friday, and mentioned ongoing talks with India and China.
Other precious metals
The movement in gold was mirrored across the precious metals spectrum. Silver climbed 0.2% to $37.21, platinum rose 1.6% to $1,333.45, and palladium surged 3.1% to $1,242.45 per ounce, signalling broader investor interest in metals amid a shifting macroeconomic outlook.