Dubai Gold Prices Climb Amid Global Market Turbulence

Dubai's gold market remains under scrutiny as international bullion prices continue to trade at elevated levels amid shifting expectations over US monetary policy and persistent geopolitical uncertainty.

The precious metal has become a major focus for investors due to concerns over inflation, currency values, and the economic impact of the conflict involving the US and Iran. As a result, gold remains sensitive to movements in the US dollar, oil prices, and expectations for interest rates.

According to the Dubai Jewellery Group, 24K gold is priced at Dh558.00 per gram, while 22K gold stands at Dh516.75 per gram. The rate for 18K gold is Dh424.50 per gram. These prices provide the latest benchmark for gold jewellery in Dubai.

Internationally, spot gold was up 0.8 percent at $4,630.09 per ounce by 0232 GMT on Thursday, while US gold futures gained 0.7 percent to $4,685.50. The recovery followed a decline of more than 1 percent in the previous session, when a stronger dollar and persistent inflation concerns weighed on bullion.