Dubai 24-k gold prices soars above Dh550 as international rates jump

Dubai: Gold prices in Dubai climbed sharply this morning, adding pressure on shoppers as international markets rallied overnight.

At opening, 24-carat gold rose to Dh550.25 per gram, up from Dh543.25 over the weekend. 22-carat increased to Dh509.50, compared to Dh503 previously.

The move comes as global bullion prices jumped, pushing local rates higher across the board.

Internationally, gold surged 1.47 per cent to around $4,575 an ounce, gaining more than $66 in early trade. The rally is being driven by safe-haven buying as investors react to global uncertainty and geopolitical risks.

This international jump is feeding directly into Dubai’s retail prices, keeping gold near record territory.

Jewellers say the higher rates are already changing buying behaviour.

Shoppers are choosing lighter jewellery and everyday designs, avoiding heavy bridal sets and large bars, and negotiating harder on making charges.

Many residents are delaying big purchases, hoping prices ease after the recent spike.

Despite the rise, tourist buying and gifting demand remain steady, especially in malls and the Gold Souk. Dubai continues to attract visitors looking for variety and trusted quality, even at higher prices.

However, big-ticket sales remain selective, as buyers stay cautious.

Traders say sharp price swings make customers hesitant, but steady footfall is expected from tourists, weddings and festive gifting.

Unless international markets cool, Dubai gold prices are likely to stay elevated, keeping pressure on budget-conscious buyers.