Dubai: Gold Prices Jump, 22K Trades Above Dh305 Per Gram

1/21/2025 4:48:28 AM

(MENAFN- Khaleej Times) Gold prices jumped Dh2.5 per gram at the opening of the markets in Dubai on Tuesday in line with the rise in global rates.

At 9am UAE time, 24K rose to Dh330.25 per gram, up Dh2.5 per gram. While 22K, 21K and 18K moved higher to Dh305.75, Dh296.0 and Dh253.75 per gram, respectively. Globally, Gold was up 0.7 per cent at $2,727.56 per ounce.

Samer Hasn, senior market analyst at xs, said yellow metal continues to hold above $2,700 per ounce. He added that the gains come despite rising Treasury yields, which in turn comes with concerns about the future path of inflation and interest rates.

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“However, uncertainty about the future of public finances with the expected shift in tax and deficit policies is likely to be a supportive factor for gold as a safe haven,” he said.

[Editor's Note: For real-time gold rates, click on the widget below or visit KT's dedicated Trading News page here. ]

In China, whose economy is bracing for weak domestic demand, the People's Bank of China left key borrowing rates unchanged.“While the lack of a cut was expected, it keeps uncertainty high about how the economy will cope with the hit to exports that are being relied upon to support growth targets," he added.

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