Dubai Gold Market Surges on Weaker Dollar and Easing Tensions

Dubai's gold market began the week on a strong note, with retail jewellery prices rising across various purities. The increase was in line with gains in international bullion markets, which were driven by a weaker US dollar and easing geopolitical tensions.

The Dubai Jewellery Group's suggested retail prices for Monday showed 24K gold priced at Dh492.75 per gram, while 22K gold stood at Dh456.25 per gram. Other purities also saw gains, with 18K gold selling at Dh375.00 per gram and 14K gold priced at Dh292.50 per gram.

The international market was driven by spot gold, which rose 0.9 percent to $4,087.79 per ounce. US gold futures gained 0.5 percent to $4,089.90 per ounce, while the US dollar index slipped 0.3 percent. This made dollar-priced metals more affordable for buyers using other currencies.