Dubai Gold Price Hits Historic High as 24K Breaks Dh400 Mark for the First Time
Gold prices in Dubai are rewriting history once again, with the price of 24K gold surpassing the Dh400 per gram mark for the first time ever, fueling a market frenzy and sending both consumers and traders into uncharted territory.
As of Thursday morning, the Dubai Gold Rate for 22K stands at Dh372.5 per gram — a staggering Dh14 jump in just over a day. The once-unthinkable Dh400 level for 24K gold has now become reality, months ahead of what experts had predicted earlier this year.
'The price gap between the year's lowest and today's rate is nearly Dh150 a gram,' noted Abdul Salam K.P., Vice-Chairman of Malabar Gold & Diamonds. On February 14, the 22K rate was at Dh223.25 — today, it's over Dh372.5.
The bullish trend isn't limited to the UAE. In Saudi Arabia, the 22K and 24K gold rates are at SR378 and SR409 respectively, reflecting the region-wide surge in demand and prices.
📈 Global Bullion Surge
Globally, gold continues its meteoric rise. Bullion briefly breached the $3,350 per ounce mark today, and is currently trading around $3,337 — an eye-popping $115 increase in just 24 hours.
'Just yesterday we were wondering if it would close at $3,280,' said a Dubai-based jeweller. 'Now, $3,380 isn't just possible — it could happen today.'
💰 What's Driving the Surge?
The rally is being driven by heavy buying from global central banks and institutional investors amidst persistent uncertainty over U.S. reciprocal tariffs. President Trump's recent 90-day extension — exempting all nations except China — has only deepened market speculation.
Amid this volatility, traders in Dubai are holding back from issuing forecasts. 'We've stopped predicting. Prices are swinging by the hour,' one bullion trader said.
⏳ What's Next?
With prices reaching new highs almost daily, the big question now is: when will profit-booking begin? Shoppers and investors are watching closely for signs of stabilization, but no one knows where the peak lies.
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