Dubai gold rises to Dh482.75 for 24K after midweek dip
Asia sees mixed premiums as Dubai demand steadies
DUBAI – Dubai gold prices closed the week stronger, with retail jewellery rates rising for the second consecutive day.
According to the Dubai Jewellery Group, 24-carat gold stood at Dh482.75 per gram on Friday, compared with Dh479.00 on Thursday and Dh476.00 on Wednesday.
The increase marks a Dh6.75 jump over two days, reflecting renewed demand or adjusted dealer premiums after a brief midweek slowdown. Other categories followed a similar trend, with 22K at Dh447.00, 21K at Dh428.50, and 18K at Dh367.50.
Dubai gold rates
Earlier in the week, 24K gold had opened on Monday at Dh490.25 per gram, easing sharply over subsequent sessions before stabilising midweek. Tuesday’s and Wednesday’s prices remained under pressure before the rebound that began on Thursday.
The latest uptick has narrowed the gap between Friday’s close and the week’s opening rate, suggesting a gradual return of stability to Dubai’s retail bullion market after volatile movements earlier in October.
Global gold prices
Globally, gold prices remained steady but were heading for a second weekly decline, pressured by a stronger dollar and shifting investor sentiment. In India, dealers offered discounts of up to $12 per ounce, reversing weeks of premiums after festival-related buying tapered off.
In contrast, premiums in China held between $0 and $4 per ounce, while Singapore and Hong Kong hovered close to parity. Japan maintained a $1 premium, signalling steady but selective demand across key Asian markets.