Dubai 24-carat gold jumps Dh5.50 to Dh600 as global rates rally
International rates climb 1.5% as investors pile into safe-haven assets
Dubai: Gold buyers in Dubai woke up to a sharp rise in prices Monday morning, tracking a strong international surge as investors rushed towards safe-haven assets.
The price of 24-carat gold climbed to Dh603.75 per gram, up from Dh598.25 a day earlier. Meanwhile, 22-carat rose to Dh559.25, compared with Dh554.00 yesterday.
That means shoppers are now paying around Dh5.50 more per gram in just 24 hours for the purest form of the metal.
What’s driving the spike in the UAE?
The rise in Dubai mirrors strong moves in global bullion markets. International gold prices have remained elevated, trading above $5,000 per ounce and extending gains of around 1.5 per cent in recent trading.
Analysts point to a combination of factors underpinning the global rally: a softer US dollar, which makes gold cheaper for buyers using other currencies, and heightened investor interest in safe-haven assets amid economic uncertainty.
There is also anticipation of lower interest rates in the United States later this year, which typically makes gold more attractive because it does not pay interest but retains value.
In India, gold prices have also moved up sharply. Twenty-four-carat gold stood at around ₹158,840 per 10g, up from ₹156,600 yesterday. And 22-carat was about ₹145,600, compared with ₹143,550 previously.
For consumers and wedding buyers in India and the Gulf, these daily rises can add up quickly.
Uncertainty and safe havens
Beyond local markets, gold’s appeal has been buoyed by broader global trends. A weaker US dollar, geopolitical risks and expectations of slower economic growth have made gold an attractive option for investors seeking safety.
Some analysts even expect prices to stay high or climb further if uncertainty persists. Central banks and institutional investors continue to hold or increase gold positions as part of wider diversification strategies.
The bottom line: If international risk persists and the dollar remains soft, gold prices could stay elevated — a trend that affects jewellery purchases, investment decisions and household budgets alike.
