Dubai gold prices at new record high, 22K surges above Dh350 per gram
Gold prices continued to scale new highs in Dubai on Tuesday, as 22K surpassed Dh350 per gram in early trade.
The Dubai Jewellery Group data showed 24K opening at Dh379 per gram while 22K was selling at Dh350.75 per gram. Among the other variants, 21K and 18K opened at Dh336.5 and Dh288.25 per gram, respectively.
Gold has gained approximately Dh62 per gram in the first three months of 2025.
Globally, gold was trading at $3,143.94 per ounce, up 0.83 per cent. It ended the first quarter of 2025 with nearly 20 per cent.
Linh Tran, market analyst at xs.com, said this growth is supported by an ideal environment, including concerns over US government tariff measures, global geopolitical instability, expectations of Federal Reserve interest rate cuts, and strong central bank demand.
'These are all factors driving capital flows into gold as a safe-haven asset, helping the precious metal maintain strong momentum throughout the first quarter. As a defensive asset against risks, gold has risen nearly 20 per cent in Q1 2025, recording the largest quarterly increase in nearly 40 years,' said Tran.
She elaborated that financial market volatility, especially investors' risk aversion to uncertainties, has made gold the preferred choice.
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