UAE: Gold rises by up to Dh10, continues rally after Trump tariff pause
Dubai residents are eyeing the yellow metal rates as prices continue to fluctuate greatly, driven by market impact after Trump imposed tariffs, and subsequently announced a 90-day pause.
Dubai Jewellery Group data showed 24k opening at Dh386.5 per gram, an increase of Dh10 from opening rates on Thursday morning.
22k opened at Dh358 per gram, compared to Dh348.75 per gram on previous day's opening. Both 21k and 18k saw similar increases, with the rates at Dh343.25 per gram and Dh294.25 per gram, a rise of Dh8.75 and Dh7.75, respectively, compared to Thursday opening rates.
Gold prices hit a rare low on Monday in the aftermath of the tariffs, and some UAE residents capitalised on the opportunity to invest in the precious metal. With rates quickly spiking after the all-time low, some residents made profits of up to Dh1,200 in 24 hours.
China to a staggering 125 per cent.
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