Dubai gold rate clears another new high - is 22K heading towards Dh390?

Peak tensions between Israel-Iran have seen gold, oil and dollar picking up

Last updated: June 13, 2025 | 09:39

Manoj Nair, Business Editor

1 MIN READ

The Dubai gold rate looks good to push higher after the new global flashpoint.

Salamat Hussain/Gulf News

Dubai: The Dubai gold rate has pushed to a new high of Dh382.25 for a gram of 22K as investors worldwide rushed to invest in the safe haven asset.

The local gold price was at the earlier high of Dh381.75, but that mark was always going to be tested.

A gram of 24K will cost Dh412.75 today.

Also Read: Israel attacks Iran: Dubai gold rate surges back to highest ever - will it go even higher?

In the global market, bullion prices are sticking to levels of $3,420 an ounce, with investors shedding anything seen as heavy on risk. In this context, gold does offer relative safety.

With investors busy, shoppers are best advised to let the current upward movements play itself out. Already, analysts are talking about when a new peak could be reached - and if that is the case will $3,550-$3,600 an ounce be the new normal for gold?

Manoj NairBusiness Editor

Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.