As investors turned to classic safe-haven goods, the price of gold in Dubai increased strongly on Friday as escalating conflicts between Israel and Iran pushed the price of gold. The 24-karat gold variant jumped by Dh4 ( approximately$ 1.09 ) per gram, reaching Dh412.75 (around$ 112.84 ) per gram, inching closer to its all-time high of Dh420 ( about$ 114.84 ) per gram set earlier this year. The rise is a result of a wider world pattern of market volatility, where political uncertainties, such as the most recent airstrikes in the Middle East, have renewed demand for robust expense options like gold.
Updated Dubai Gold Prices ( as of Friday, June 13, 2025 ):
- 24K gold: Dh412.75 ($ 112.84 ) per gram
(up from Dh408.75]$ 111.74] the day before ) - 22K gold: Dh382.25 ($ 104.55 ) per gram
- 21K gold: Dh366.50 ($ 99.80 ) per gram
- 18K gold: Dh314.00 ($ 85.86 ) per gram
This represents a Dh14 improve ( estimate. $ 3.83 per gram for 24K gold in the last three days, making it one of the most notable short-term gains this year. In addition, spot gold was trading at$ 3, 415.73 per ounce, up 1.07 %, reaching its highest level in nearly two months.
What Is causing the boom?
Buyers are turning their attention to safe-haven goods in response to this most recent rise in Middle Eastern conflicts, according to Tim Waterer, Chief Market Analyst at KCM Trade. On the news of the airstrikes,” Gold surged past resistance around$ 3,400, and further inside could be in-store if the escalation continues.” He continued. A number of factors contributed to the record high of Dh420 ($ 114.84 ) per gram reached 24K gold earlier this year, including:
- The world trade conflict
- A sagging US dollars
- Increasing political tensions
Effects on UAE customers
The new price increase may have an impact on UAE residents ‘ spending habits, especially those who intend to buy gold jewelry before traveling during the summer. While it’s common for expats to give silver to their families when they travel abroad, rising costs could then push them to reconsider. This pattern may remain if geopolitical risks remain high, with researchers anticipating an even greater increase in instability in the region as a result.
