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Gold prices in Dubai edged lower on Tuesday, reflecting weakness in global bullion markets. The price of 24K gold dropped to Dh562.50 per gram, down from Dh565.75 per gram a day earlier, according to reports.
Dubai Gold Price Today (Per Gram)
Other gold variants also recorded marginal declines:
22K gold: Dh520.75
21K gold: Dh508.75
18K gold: Dh499.25
14K gold: Dh428.00
Global Gold and Silver Rates
The dip in Dubai gold rates comes amid a broader decline in international prices. On COMEX:
Gold slipped 0.27% to $4,680 per ounce
Silver fell 0.73% to $74.48 per ounce
Despite the short-term decline, precious metals have delivered strong returns over the past year. Gold has surged over 40% in dollar terms, while silver has outperformed significantly, rising by nearly 125%.
Geopolitical Tensions Impacting Gold Prices
Market sentiment continues to be influenced by ongoing geopolitical uncertainty. Tensions between the United States and Iran remain elevated, with negotiations showing volatility.
Reports indicate that the US has rejected Iran’s proposal, which involved reopening the Strait of Hormuz and initiating nuclear talks following the easing of maritime restrictions. However, Washington is pushing for a broader agreement covering both issues simultaneously, keeping uncertainty high in global markets.
Oil Prices Surge Near 52-Week High
Adding to market volatility, crude oil prices rallied sharply:
Brent crude touched an intraday high of $111.31 per barrel (up ~3%)
WTI crude rose to $98.81 per barrel, gaining 2.53%
Latest Gold Rates in Dubai (Retail)
Here are the latest gold rates from major retailers:
Malabar Gold & Diamonds
22K: Dh517.50
24K: Dh558.75
Joyalukkas
24K: Dh558.75
22K: Dh517.50
18K: Dh425.25
iGold
24K: Dh557.84
22K: Dh516.48
18K: Dh422.56
Gold prices in India vs Dubai
Gold is generally 5–7% cheaper in Dubai than in India, largely because the UAE does not levy import duties or GST on bullion. Under Indian customs rules, a traveller who has lived abroad for more than one year is allowed to bring gold jewellery duty-free up to 20 grams for men and 40 grams for women. However, this exemption applies strictly to jewellery and does not cover gold bars or coins.
If the quantity exceeds the duty-free limit, a tiered customs duty is imposed, starting at around 3% and increasing to 6% and 10% depending on the amount. Gold bars and coins can attract a concessional 6% duty, provided the traveller has stayed abroad for more than six months, while short-term travellers may face significantly higher duties ranging between 36% and 38.5%. In addition, when gold is sold or purchased in India, a 3% GST is applicable.
Dubai Gold Price Today (Per Gram)
Other gold variants also recorded marginal declines:22K gold: Dh520.75
21K gold: Dh508.75
18K gold: Dh499.25
14K gold: Dh428.00
Global Gold and Silver Rates
The dip in Dubai gold rates comes amid a broader decline in international prices. On COMEX:Gold slipped 0.27% to $4,680 per ounce
Silver fell 0.73% to $74.48 per ounce
Despite the short-term decline, precious metals have delivered strong returns over the past year. Gold has surged over 40% in dollar terms, while silver has outperformed significantly, rising by nearly 125%.
Geopolitical Tensions Impacting Gold Prices
Market sentiment continues to be influenced by ongoing geopolitical uncertainty. Tensions between the United States and Iran remain elevated, with negotiations showing volatility.Reports indicate that the US has rejected Iran’s proposal, which involved reopening the Strait of Hormuz and initiating nuclear talks following the easing of maritime restrictions. However, Washington is pushing for a broader agreement covering both issues simultaneously, keeping uncertainty high in global markets.
Oil Prices Surge Near 52-Week High
Adding to market volatility, crude oil prices rallied sharply:
Brent crude touched an intraday high of $111.31 per barrel (up ~3%)
WTI crude rose to $98.81 per barrel, gaining 2.53%
Latest Gold Rates in Dubai (Retail)
Here are the latest gold rates from major retailers:Malabar Gold & Diamonds
22K: Dh517.50
24K: Dh558.75
Joyalukkas
24K: Dh558.75
22K: Dh517.50
18K: Dh425.25
iGold
24K: Dh557.84
22K: Dh516.48
18K: Dh422.56
Gold prices in India vs Dubai
Gold is generally 5–7% cheaper in Dubai than in India, largely because the UAE does not levy import duties or GST on bullion. Under Indian customs rules, a traveller who has lived abroad for more than one year is allowed to bring gold jewellery duty-free up to 20 grams for men and 40 grams for women. However, this exemption applies strictly to jewellery and does not cover gold bars or coins.If the quantity exceeds the duty-free limit, a tiered customs duty is imposed, starting at around 3% and increasing to 6% and 10% depending on the amount. Gold bars and coins can attract a concessional 6% duty, provided the traveller has stayed abroad for more than six months, while short-term travellers may face significantly higher duties ranging between 36% and 38.5%. In addition, when gold is sold or purchased in India, a 3% GST is applicable.
