Dubai Gold Prices Climb as Global Bullion Hits One-Week High

Dubai's gold market saw an increase in prices on Saturday, with all three key jewellery categories recording gains. This followed international bullion prices reaching a one-week high. The Dubai Jewellery Group suggested retail price for 24K gold rose by Dh1.25 per gram to Dh527.50, while 22K and 18K increased by Dh1.25 and Dh1 respectively.

The global market saw spot gold rise 1.2% to $4,390.11 an ounce on Friday, with US gold futures settling 0.6% higher at $4,424.90. Lower oil prices eased concerns over prolonged inflation, supporting gold despite a stronger US dollar.

The increase in Dubai's gold rates is consistent with the wider movement in international bullion. However, published UAE historical-rate tables may reflect different intraday fixing times.