Picture for illustrative purposes only. ARCHIVE

Gold prices in Dubai rose sharply on Monday (March 2), climbing by as much as Dh14 per gram as global markets reacted to escalating tensions involving the US, Israel and Iran. According to the Dubai Gold and Jewellery Group, 24K gold was trading at Dh650 per gram, up from Dh636 on Sunday. Other categories also posted strong gains. 22K gold was priced at Dh602 per gram, compared to Dh589 on Sunday. 21K rose to Dh577.25 from Dh564.75 the previous day, while 18K increased to Dh494.75 from Dh484. Gold is traditionally seen as a safe-haven asset during periods of geopolitical uncertainty. Prices have already reached successive record highs this year amid global political and economic concerns. In international markets, spot gold was trading at $5,353.8 per ounce, up 1.43 percent as of 9:10am UAE time. Silver opened at $344.13 per ounce, easing slightly after earlier gains. Analysts had expected precious metals to open higher as investors moved funds into safer assets following the weekend’s military developments in the region. Jewellery retailers in Dubai said price movements are closely watched by shoppers, especially those planning wedding purchases or investment buys. Buyers typically monitor daily fluctuations before making large purchases.

Gold prices in Dubai

March 2, 2026 • 24K: Dh650 • 22K: Dh602 • 21K: Dh577.25 • 18K: Dh494.75 March 1, 2026 • 24K: Dh636 • 22K: Dh589 • 21K: Dh564.75 • 18K: Dh484 ICA/Expat Media | Source: Dubai Gold and Jewellery Group
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