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Gold prices in Dubai jumped sharply on Monday, with 24-carat gold climbing Dh5.50 to Dh603.75 per gram, reflecting a global surge in bullion as investors flocked to safe-haven assets amid economic uncertainty.
24-carat: Dh603.75/g (up from Dh598.25)
22-carat: Dh559.25/g (up from Dh554.00)
International gold trading above $5,000 per ounce, up ~1.5%
Softer US dollar making gold cheaper for other currency holders
Investor interest in safe-haven assets amid economic and geopolitical risks
Expectations of lower US interest rates later this year, increasing gold’s appeal
In India, 24-carat gold rose to ₹158,840 per 10g (from ₹156,600)
22-carat gold reached ₹145,600 per 10g (from ₹143,550)
Rising prices affect jewellery buyers, wedding shoppers, and household budgets
Analysts suggest that as long as global uncertainty persists and the US dollar remains weak, gold prices could remain high or climb further, reinforcing its role as a key hedge against risk.
