Dubai Gold Prices Jump 22K Crosses Dh500 Per Gram

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Gold prices jumped in Dubai on Friday evening with 22K gold crossing Dh500 per gram in the evening.

According to the Dubai Jewellery Group data, 22K gold price rose to Dh500.25 per gram while 24K gold price hit Dh540.25 per gram. Similarly, 21K, 18K and 14K rose Dh479.75, Dh411.25, and Dh320.75 per gram, respectively.

Spot gold crossed $4,500 per ounce on Friday evening due to US payroll miss, global uncertainty, and geopolitical tensions around the world, trading at $4,510.35 per ounce, up1.3 per cent at 7.30 pm UAE time.

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US nonfarm payrolls rose by 50,000 in December 2025, missing expectations of 60,000 gain. Vijay Valecha, chief investment officer at Century Financial, said gold is on track to deliver a weekly gain.

"This would mark its 4th weekly gain in the last five weeks. Despite a strong dollar, gold still held its ground this week. This is due to safe-haven demand stemming from geopolitical tensions between the US and Venezuela, as well as uncertainty pertaining to trade relations between China and Japan," he said.
Moreover, US Treasury Secretary Scott Bessent said President Trump is likely to announce Chairman Powell's successor this month, prompting speculation that the new Chair will mirror Trump's stance on lower interest rates.

"While a rebalancing of commodity indices could exert some pressure on precious metals in the short run, all the long-term catalysts supporting the rally remain in place. Silver is also supported by a supply shortage, as industrial demand outpaces supply. It is exhibiting heightened volatility, with the 30-day volatility being nearly 18 points greater than the 90-day volatility."
Valecha sees gold could encounter resistance at $4,550 while silver could encounter resistance around $79.54.

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