Dubai Gold Prices Soar as Global Bullion Markets Extend Rally

Dubai's gold prices surged on Wednesday, with all major jewellery categories recording significant gains. The increase in prices was reflected across 24K, 22K, and 18K gold, mirroring strength in international bullion markets.

The Dubai Jewellery Group reported that 24K gold rose to Dh498.50 per gram, while 22K increased to Dh461.50 per gram. The price of 18K gold climbed to Dh379.25 per gram. Compared with Tuesday's prices, 24K gained Dh8.75 per gram from Dh489.75, while 22K rose Dh8.00 from Dh453.50.

The latest rise has pushed local jewellery prices close to recent record levels, reflecting renewed momentum in the global precious metals market. Global markets also saw international gold prices extend gains for a third consecutive session on Wednesday, with spot gold climbing 1.3 percent to $4,127.04 per ounce.