As the week got underway, gold prices in Dubai jumped to all-time highs on Monday, surpassing $3,800 per ounce globally. While 22K hit Dh424.25 per gramme, 24K surged to an all-time high of Dh458.25 per gramme in the UAE. The prices of the other varieties were Dh407 and Dh348.75 per gram, respectively, for 21K and 18K.
Geopolitical concerns, global uncertainty, and US interest rate decreases have all contributed to the recent surge in gold prices. Gold prices are likely to rise further if uncertainty persists, and 24K gold might reach Dh500 per gram. Because of gold’s tenacity, investors have a positive perspective and anticipate that the price of precious metal will get $4,000 per ounce in 2026.
At noon on Monday, spot gold was up 1.5% at $3,810.53 an ounce. In the morning, it hit $3,819 per ounce. According to Dilin Wu, research strategist at Pepperstone, gold surged beyond $3,800 to a new high as exchange-traded fund (ETF) inflows supported further gains and safe-haven demand was driven by geopolitical tensions, US Federal Reserve rate drop predictions, and the possibility of a US government shutdown.
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