UPDATE

Dubai gold prices hold near record highs after sharp rally

UAE gold stays elevated as prices surge over the past week; India rates also seen higher

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Gulf News Archive

Dubai: Gold prices in the UAE stayed high after hitting record levels earlier. On Friday morning, 22-karat gold was at Dh429.00 per gram, while 24-karat stood at Dh463.25.

Just a week ago, gold hit new highs in Dubai when 24-karat touched Dh452.25 and 22-karat Dh418.75 per gram.

(Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.) Meanwhile, the Indian gold rate for 24-karat gold was back up at ₹11,869 per gram, and the rate for 22-karat gold rose to ₹10,880 per gram on Friday morning. 

Globally, gold steadied after a five-day rally that drove it to new peaks. The US government shutdown came into effect, heightening uncertainty. Traders also stepped up bets on Federal Reserve rate cuts following soft economic data.

Spot gold was holding around $3,860 an ounce, about $35 shy of its Wednesday peak. With federal operations paused, key economic reports the Fed relies on may be delayed.

It has now gained for six straight weeks, driven by demand from investors seeking safe-haven assets amid global uncertainty.

For UAE consumers, the latest price movements mean gold remains both a cultural staple and a financial safe haven, with analysts expecting continued resilience in the months ahead.

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

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