Gold buyers in Dubai woke up to a sudden price jump on Monday, as international markets surged. The key factor driving this rise is global gold price surge, and it is reshaping local rates. Dubai’s 24-carat gold climbed sharply, and shoppers faced higher costs within just 24 hours.
Dubai’s 24-carat gold rate reached Dh603.75 per gram, up from Dh598.25 the day before. Meanwhile, 22-carat gold rose to Dh559.25, compared with Dh554.00 yesterday. In other words, buyers now pay around Dh5.50 more per gram for the purest gold. This jump reflects broader momentum in global bullion markets.
International gold prices have remained elevated, trading above $5,000 per ounce. The metal has gained about 1.5 percent in recent sessions. Analysts link this rally to a weaker US dollar, which makes gold cheaper for buyers using other currencies. Furthermore, investors have been flocking to safe-haven assets amid ongoing economic uncertainty.
The UAE market is directly influenced by global trends, and Dubai traders now feel the impact. In addition, investors anticipate lower interest rates in the United States later this year. Lower rates typically boost gold demand, since the metal does not yield interest but retains value. As a result, gold becomes a more attractive store of wealth.
India has also seen sharp increases, and this trend matters to Gulf buyers. Twenty-four-carat gold stood at around ₹158,840 per 10g, up from ₹156,600 yesterday. Meanwhile, 22-carat was about ₹145,600, compared with ₹143,550 previously. These daily rises add up quickly for consumers and wedding buyers across the region.
Beyond local markets, global risk factors have kept gold prices high. Geopolitical tensions and fears of slower growth have pushed investors toward safe assets. Central banks and institutional investors continue to hold or increase their gold reserves. Therefore, the demand outlook remains strong.
Moreover, many analysts expect prices to stay elevated if uncertainty persists. If the US dollar remains soft, gold could climb further. This trend affects jewellery purchases, investment decisions, and household budgets. Thus, consumers may need to plan carefully for upcoming celebrations and major purchases.
In summary, the global gold price surge is now reflected in Dubai’s market, and it may continue. With broader economic uncertainty and shifting rates, gold is likely to stay in demand. Therefore, buyers and investors should monitor prices closely, as daily changes can significantly affect costs.
