E-Paper
Sign In
Tue, Jan 20, 2026 | Shaban 1, 1447 | Fajr 05:45 | DXB 
24.1°C
iPhone | iPad
Android
Gold nears record high as 24K hits Dh524.50 amid softer US dollar
Many experts have described 2025 as the defining year for gold, with recent developments showing why gold still matters
[Editor's Note: Want to know the gold rate in Dubai? Click here]
Gold continued its strong run on Thursday as prices inched closer to its all-time high in October. When markets opened on Thursday, 24K gold price stood at Dh524.50, up from its morning rate on Wednesday of Dh521.75.
Recommended For You
On October 21 this year, the yellow metal hit its highest price ever of Dh525.25, before falling sharply and then rising again.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Meanwhile, the rates of 22K, 21K,18K, and 14K stood at Dh485.75, Dh465.75, Dh399.25, and Dh311.50, respectively. Spot gold prices stood at $4333.72 at 11 am, while silver prices was at $66.5.
Hani Abuagla, Senior Market Analyst at XTB Mena, said that in recent sessions, bullion has benefited from a softer US dollar and lower Treasury yields. “Beyond near-term monetary dynamics, concerns about the Fed’s independence and political interference could also push investors toward assets like gold,” he said. “At the same time, geopolitical risk has become more elevated, with ongoing tensions in Eastern Europe, the Middle East, and Asia reinforcing a global risk premium.”
Many experts have described 2025 as the defining year for gold, with recent developments showing why gold still matters.
According to Hani, the metal could remain sensitive to incoming macroeconomic data. “Softer data would likely reinforce expectations of a more accommodative Fed stance, keeping yields and the dollar capped and supporting bullion,” he said. “Conversely, any upside surprise in inflation or economic activity could revive fears of a more restrictive policy, which could trigger profit-taking after gold’s strong run.”
He added that a softer global growth backdrop, along with sustained central bank accumulation and the non-resolution of current frictions, could reinforce gold's role as a strategic safe-haven asset.
Nasreen Abdulla
Nasreen Abdulla is a Special Correspondent covering food, tech and human interest stories. When not challenged by deadlines, you’ll find her pulling off submissions on the jiu jitsu mats.
Don’t just scroll. Know it all. Sign up for your daily UAE news fix.
Get the top stories of the day right in your inbox.
