Dubai Gold Prices Surge as 24K Hits Dh400 for the First Time

The Dubai gold price for 24K has hit an all-time high, crossing the Dh400-per-gram mark for the first time ever. The surge marks a historic moment for the local market, with 22K gold also climbing to Dh372.5 per gram after a Dh14 jump in just over a day.

Earlier Forecasts Missed the Mark

At the start of the year, analysts expected prices to reach these levels around September or October. Now, those predictions seem far too conservative.

Abdul Salam K.P., Vice-Chairman of Malabar Gold & Diamonds, highlighted the massive gain. “The price has increased nearly Dh150 per gram since the year’s low,” he said. That low came on February 14, when 22K gold stood at Dh223.25 per gram.

Gulf Region Sees Widespread Gains

In Saudi Arabia, gold prices are following a similar trend. A gram of 22K now costs SR378, while 24K is priced at SR409.

Global Bullion Prices Continue to Climb

The international gold market mirrors Dubai’s upward trend. Gold briefly crossed $3,350 per ounce earlier today. It’s currently trading at around $3,337 — up $115 in just 24 hours.

“Yesterday morning, we thought gold might close at $3,280,” said a Dubai jeweller. “Now we’re looking at $3,380 being within reach — maybe even today.”

Tariff Uncertainty Driving Demand

Ongoing uncertainty over U.S. reciprocal tariffs continues to fuel gold’s rise. President Trump’s 90-day grace period — granted to all nations except China — has only added to market anxiety.

As a result, central banks and large institutional investors are stocking up on gold, driving demand and pushing prices higher.

No Signs of Stabilization Yet

Gold traders in Dubai are no longer offering forecasts. Price swings have become too unpredictable, often changing within hours.

Buyers and investors are now waiting for a possible round of profit booking. But when — or if — that will happen remains unknown.