Dubai Gold Prices Rise as Global Tensions and Rates Shift
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Gold gains Dh5 per gram in Dubai as inflation, oil, and Fed expectations shape market sentiment.
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Gold prices in the UAE saw a welcome jump of Dh5 per gram on Tuesday morning. This rise comes as regional tensions continue and global investors closely watch US interest rates and inflation trends.
The 24K gold rate in Dubai is trading at Dh488 per gram, rising from Dh483 per gram at the close of the markets on Monday.
According to the latest data from the Dubai Jewellery Group, here are the prices for other popular gold variants in the city:
- 22K Gold: Dh495.25 per gram
- 21K Gold: Dh474.75 per gram
- 18K Gold: Dh407 per gram
- 14K Gold: Dh317.5 per gram
Global Market Trends
On the global stage, spot gold rose by 0.93 percent to trade at $4,050 per ounce on Tuesday morning. Meanwhile, silver recovered by 1.84 percent to trade at $57.87, following a drop of 6.5 percent last week.
Market experts note that a steady US dollar is supporting gold, but rising oil prices are keeping inflation concerns active, which limits major price jumps.
AI contributed to the creation of this article.