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Commodities

Dubai Gold Rates Rebound Amid Global Price Surge

Guavy AI Editorial Team
Instruments
Gold
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Dubai's gold rates rebounded on Thursday after a sharp decline in the previous session. According to the Dubai Jewellery Group, the latest suggested retail rates showed 24K gold at Dh532 per gram, up from Dh518.25 per gram on Wednesday. This represents a gain of Dh13.75 for 24K gold.

The rebound came as international gold prices recovered above $4,400 an ounce amid a softer US dollar and lower Treasury yields. Spot gold rose 0.5 percent to $4,409.97 an ounce by 0219 GMT on Thursday, after touching a near one-month low during the previous session.

The move in global markets is attributed to the weakening of the US dollar and easing of US Treasury yields. This has improved the appeal of gold for holders of other currencies. However, geopolitical risks remain another major factor, with tensions between the US and Iran continuing to keep markets focused on the Middle East.

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