Dubai gold prices at new record high, 22K surges above Dh350 per gram
Dubai gold prices continued to touch new heights on Tuesday, as the price of 22K crossed Dh350 per gram at the close of early trade these mornings.
Based on the Dubai Jewellery Group data, 24K opened the day at Dh379 per gram, and 22K was priced at Dh350. 75 per gram. The other variants, 21K and 18K, opened at Dh336. 5 and Dh288. 25 per gram, respectively.
Gold prices have risen by around Dh62 per gram during three months of 2025 so far. On the worldwide level gold was $3,143.94 an ounce, rising 0.83 percent. At the end of Q1 2025, it was just shy of 20 per cent.
As Linh Tran, market analyst at xs explains. This growth is underpinned by a "perfect storm" environment — US government tariff-related "hysteria," geo-political tensions n "global hotspots," views that the Federal Reserve is on a pro rate cut path and continued strong central bank appetite, Mark O'Byrne, executive director at Mintstone.com, said.
All of these are contributing reasons for capital inflows toward gold as a safe-haven asset, which has allowed the yellow-metal to remain relatively supported through the first quarter. Gold is also a defensive asset that has already shown great strength, up nearly 20 per cent for Q1 2025, marking the best quarterly performance in almost 40 years,' Tran said.
Gold has become the preferred asset as financial markets and investor sentiment becomes more uncertain, she added.
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