Dubai gold rates inch higher, India turns cheaper for buyers

Dubai: Planning to buy gold today? Prices in Dubai have edged up slightly this morning, continuing a gentle upward trend — but the real surprise is in India, where gold has turned noticeably cheaper overnight.

With global markets calm and no major shocks in play, today’s gold movement is being driven more by local demand than international drama.

In Dubai, 24-carat gold rose to Dh577.75 per gram, up from Dh577.00 yesterday, while 22-carat increased to Dh535.00, compared to Dh534.25 in the previous session.

The rise is marginal, but it keeps prices near record highs, meaning buyers are still paying a premium — especially ahead of wedding season and festival demand.

What’s happening in Saudi Arabia

Gold prices in Saudi Arabia were unchanged this morning, offering stability for shoppers. 24-carat gold remained at SAR598.00 per gram, while 22-carat held at SAR550.00.

For consumers, this flat pricing signals a pause after recent swings, with jewellers unlikely to adjust prices unless global cues shift.

India sees a drop

Indian gold buyers, meanwhile, are seeing some relief. 24-carat gold fell to ₹15,431 per gram (₹154,310 per 10 grams) from ₹15,660 (₹156,600 per 10 grams) yesterday. 22-carat gold slipped to ₹14,145 per gram (₹141,450 per 10 grams), down from ₹14,355 (₹143,550 per 10 grams).

The decline is being linked to profit-booking after recent highs and currency movements rather than any drop in long-term demand — making this a short-term buying opportunity for consumers.

Global picture

International gold prices edged lower, with spot gold trading at $4,801.47, down $33.01, or 0.68 per cent, as investors booked profits after recent highs. The marginal decline reflects a calmer global mood, with reduced demand for safe-haven assets.

Markets were steadied by easing geopolitical tensions and a firmer US dollar, both of which typically weigh on gold prices.

Sentiment, perhaps, was also influenced by comments at the World Economic Forum in Davos, where former US President Donald Trump sought to reassure audiences that the US would not pursue Greenland “by force,” dialling back geopolitical risk that often supports bullion.

With no immediate inflation shocks or central bank surprises, gold is currently drifting on technical factors rather than reacting to major global developments — keeping price moves limited for now.