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Dubai: Gold prices recover slightly after losing nearly Dh10 per gram last week
Gold jewellers said sales pick up during the summer travel season as many residents buy ornaments for their families and friends when travelling to their home countries
- PUBLISHED: Mon 30 Jun 2025, 9:33 AM
Gold prices recovered slightly on Monday morning after losing Dh10 per gram last week as shopping season peaks due to summer travel.
The Dubai Jewellery Group data showed 24K selling at Dh394.5 per gram at the opening of the markets on Monday, down from Dh396 at the close of markets over the weekend. The most expensive variant of the yellow metal lost Dh10 per gram last week.
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Among the other variants, 22K, 21K and 18K opened at Dh366.75, Dh351.75 and Dh301.5 per gram, respectively.
Gold jewellers in Dubai said that sales pick up during the summer travel season as many residents buy ornaments for their families and friends when travelling to their home countries during the season. This decent drop in prices allows residents to take advantage of lower prices as precious metal has been volatile over the past few months due to geopolitical tensions around the world.
Spot gold was trading at $3,285.87 per ounce, up 0.3 per cent in early trade.
Krisada Yoonaisil, financial markets strategist at Exness, said geopolitical developments offer mixed signals. “While the ceasefire between Israel and Iran appeared to hold, weighing on the market concerns over its durability lingered. Ongoing tensions in Gaza and Ukraine underscored the fragility of the broader geopolitical landscape. Any escalation could weigh on market sentiment and bolster demand for safe-haven assets like gold,” said Yoonaisil.
