Gold prices surged in Dubai as investors flocked to safe-haven assets amid global market uncertainty. The metal’s daily gains have drawn attention across the UAE and beyond.
On Monday, 24-carat gold reached Dh603.75 per gram, up from Dh598.25 the previous day. Meanwhile, 22-carat gold rose to Dh559.25, climbing from Dh554.00. Shoppers now pay Dh5.50 more per gram for pure gold in just 24 hours.
The surge in Dubai mirrors global bullion trends. International gold prices have remained above $5,000 per ounce, extending gains of around 1.5 per cent. Analysts point to several factors behind the rally.
A softer US dollar makes gold more affordable for buyers using other currencies. Economic uncertainty has also boosted investor demand for safe-haven assets like gold. In addition, expectations of lower US interest rates later this year increase the metal’s appeal. Unlike interest-bearing assets, gold retains value and acts as a reliable store of wealth.
Gold prices in India also rose sharply. Twenty-four-carat gold traded at roughly ₹158,840 per 10 grams, up from ₹156,600, while 22-carat gold climbed to ₹145,600 from ₹143,550. These increases affect wedding buyers, investors, and consumers, who now face higher costs for purchases.
Experts suggest these trends may continue in the near term. Economic uncertainty in major economies and ongoing safe-haven demand could further support gold prices. In Dubai, rising prices affect retail buyers, jewellery demand, and investment patterns.
Dubai’s gold market remains a key hub for regional and international buyers. Jewellery stores and bullion traders adjust prices daily to reflect global shifts. Consumer awareness is also rising as buyers track rapid price movements to time purchases effectively.
Looking ahead, investors are likely to monitor the US dollar, interest rate expectations, and global economic indicators to gauge gold’s performance. Analysts advise caution, emphasizing careful timing when buying or selling amid volatility.
Ultimately, the recent price surge demonstrates gold’s continued role as a safe-haven asset and its importance in Gulf and global markets. Staying informed is critical for both consumers and investors as gold prices fluctuate internationally.
