Gold prices in Dubai rose sharply on Friday as escalating tensions between Israel and Iran pushed investors toward traditional safe-haven assets. The 24-karat gold variant jumped by Dh4 (approximately $1.09) per gram, reaching Dh412.75 (around $112.84) per gram, inching closer to its all-time high of Dh420 (about $114.84) per gram set earlier this year. The spike reflects a broader global trend of market volatility, where geopolitical uncertainties, such as the latest airstrikes in the Middle East, have renewed demand for stable investment options like gold.
Updated Dubai Gold Prices (as of Friday, June 13, 2025):
- 24K gold: Dh412.75 ($112.84) per gram
(up from Dh408.75 [$111.74] the day before) - 22K gold: Dh382.25 ($104.55) per gram
- 21K gold: Dh366.50 ($99.80) per gram
- 18K gold: Dh314.00 ($85.86) per gram
This marks an increase of Dh14 (approx. $3.83) per gram for 24K gold in just the past three days, making it one of the most notable short-term surges this year. Meanwhile, spot gold was trading at $3,415.73 per ounce, up 1.07%, hitting its highest level in nearly two months.
What’s Driving the Surge?
“This latest spike in hostilities in the Middle East has taken the focus off trade negotiations for now, with investors making a play towards safe-haven assets in response,” said Tim Waterer, Chief Market Analyst at KCM Trade.“Gold surged past resistance around $3,400 on news of the airstrikes, and further upside could be in-store should the escalation continue.” He added. Earlier this year, 24K gold had touched a record high of Dh420 ($114.84) per gram, driven by a combination of factors including:
- The global tariff war
- A weakening US dollar
- Heightened
geopolitical tensions
Impact on Consumers in the UAE
The recent price jump could affect the spending habits of UAE residents, particularly those planning to purchase gold jewellery ahead of summer travel. It’s common for expatriates to buy gold as gifts for family when visiting their home countries, but rising prices may now force a rethink. This trend may continue if geopolitical risks remain elevated, with analysts eyeing further upward pressure should instability in the region deepen.