Dubai: Gold prices in Dubai, United Arab Emirates (UAE), rose on Monday, February 17, as markets opened for the first trading day of the week.
According to the Dubai Jewellery Group, the gold prices in both the morning and afternoon on Monday remained unchanged compared to the closing rates on Sunday evening, February 16.
Gold price overview for February 17 in Dubai
| Gold type | Feb 17, morning (9:15 am) | Feb 17, afternoon (1:30 PM UAE time) | Feb 16, Sunday evening |
| 24-carat | Dirham 349.50 (Rs 8,265.04) | Dirham 349.50 (Rs 8,265.04) | Dirham 347.75 (Rs 8,223.65) |
| 22-carat | Dirham 325.00 (Rs 7,685.66) | Dirham 325.00 (Rs 7,685.66) | Dirham 323.50 (Rs 7,650.19) |
| 21-carat | Dirham 311.75 (Rs 7,372.32) | Dirham 311.75 (Rs 7,372.32) | Dirham 310.25 (Rs 7,336.85) |
| 18-carat | Dirham 267.25 (Rs 6,319.98) | Dirham 267.25 (Rs 6,319.98) | Dirham 266.00 (Rs 6,290.42) |
In global markets on Monday morning, spot gold traded at 2,901.11 US dollars per ounce, marking a 0.59 percent increase.
The surge in gold prices is attributed to factors such as the weakening US dollar, recent declines in US retail sales, and investor concerns over potential trade conflicts arising from President Donald Trump’s proposed reciprocal tariffs, Reuters reported.
Analysts suggest that ongoing geopolitical tensions, central banks diversifying from the US dollar, and inflationary pressures may continue to support high gold prices in the near future.
Investors continue to turn to gold as a safe store of value during times of political and economic instability, reinforcing its status as a key asset in diversified portfolios.
