Gold prices in Dubai rose to their highest levels ever on Monday after recent actions taken by the United States in Venezuela increased global political tensions. Because of this uncertainty, many investors turned to gold, which is seen as a safe place to invest during unstable times.
The price of 24-carat gold reached Dh530.5 per gram. Other gold types also saw strong gains. The 22-carat gold rate was Dh491.25 per gram, while 21-carat gold traded at Dh471 per gram. Prices for 18-carat and 14-carat gold were Dh403.75 and Dh315 per gram, respectively. These increases affected both buyers and sellers in local markets.
At the global level, spot gold prices also moved sharply higher. Gold was trading at $4,408.65 per ounce, showing an increase of 1.76 percent in a single session. This rise reflects growing demand from investors who are worried about global economic and political risks.
Market experts say gold often becomes more attractive during times of international tension, inflation concerns, or currency uncertainty. As long as these conditions continue, gold prices may remain high or see further fluctuations. Shoppers and investors in Dubai are closely watching the market to decide the right time to buy or sell.
