Gram rates for 22K reach AED 465 as consumer demand and global macroeconomic conditions drive retail prices higher across Dubai and the Emirates.
DUBAI :Retail gold prices across the United Arab Emirates recorded a sharp increase on Wednesday, with 24-karat gold crossing the psychological threshold of AED 500 per gram.
The upward surge reflects global bullion market fluctuations and heightened investor demand for safe-haven assets.
Retail gold prices in the United Arab Emirates recorded a substantial rally, pushing 24-karat gold to AED 502.25 per gram. The sharp uptick, confirmed by the Dubai Jewellery Group’s morning daily update, brings key gold purities in the Emirates to new local trading levels.
The price adjustments reflect broader movements in global spot gold markets, where safe-haven buying and international economic cues have pushed precious metals higher.
According to official retail rates released by the Dubai Jewellery Group, 22-karat gold rose to AED 465.00 per gram, while 18-karat gold reached AED 382.25 per gram. Meanwhile, 21-karat gold traded at AED 445.75 per gram.
The benchmark 24K price breaching AED 502 per gram represents a notable gain over recent sessions. Retail jewellers in Dubai’s historic Gold Souk and across major shopping malls updated their display boards early Wednesday to reflect the official industry guidelines.
Global Drivers and Market Sentiment
Local retail gold prices in the UAE are directly pegged to international spot gold movements, adjusted for local currency conversion against the US dollar. Analysts attribute the current upward momentum to geopolitical uncertainties, shifting central bank interest rate expectations, and increased portfolio diversification by global institutional investors.
Local market observers noted that despite higher price tags, retail appetite remains resilient among long-term investors and tourists visiting the country’s prominent jewellery hubs.
Impact on Consumers and Remitters
For expatriates and resident buyers, the price increase presents a dual perspective. While shoppers purchasing ornamental jewellery face higher upfront costs, holders of physical gold bars and bullion coins benefit from enhanced portfolio valuation.
Industry experts advise shoppers to monitor daily updates closely, as intraday adjustments can occur depending on volatile shifts in benchmark international gold markets.
