Gold Surges in Dubai Amidst Safe-Haven Demand, Oil Prices Jump
Dubai witnessed significant gains in both gold and oil prices on Thursday, March 5, 2026, as geopolitical tensions and inflation concerns fueled investor interest in safe-haven assets. The price of 24-karat gold reached 623.25 UAE dirhams per gram at the opening of markets, an increase from the previous night’s closing price of 619.25 dirhams per gram, marking a gain of 4 dirhams per gram, according to reports.
The surge in gold prices mirrors a global trend, with spot gold trading at $5,174.17 per ounce in the morning, a 1 percent increase. Silver also rose, climbing 1.85 percent to $84.6 (310.7 dirhams) per ounce, according to data from goldprice.org. This upward momentum reflects a broader shift towards assets perceived as less risky amid ongoing conflicts in the Middle East and Eastern Europe.
As of Saturday, March 7, 2026, at 3:57 AM local time, gold prices in Dubai were reported at 19,301.91 UAE dirhams per ounce, 620.64 dirhams per gram for 24-karat gold, 568.92 dirhams per gram for 22-karat gold, 543.06 dirhams per gram for 21-karat gold and 465.48 dirhams per gram for 18-karat gold, as detailed by Gold Prices Dubai. This represents a notable increase of 249.92 UAE dirhams per ounce for 24-karat gold, a 1.31 percent change compared to the previous day, Friday, March 6, 2026.
Here’s a breakdown of gold prices in Dubai as of March 7, 2026:
- Ounce of Gold: 19,301.91 AED (5,152.04 USD)
- Tola of Gold: 7,238.22 AED (1,932.02 USD)
- 24K Gold (per gram): 620.64 AED (165.66 USD)
- 22K Gold (per gram): 568.51 AED (151.74 USD)
- 21K Gold (per gram): 543.06 AED (144.95 USD)
- 18K Gold (per gram): 465.48 AED (124.25 USD)
Gold bar prices in Dubai are as follows:
- 1 gram gold bar: 620.64 AED
- 5 gram gold bar: 3,103.20 AED
- 10 gram gold bar: 6,206.40 AED
- 20 gram gold bar: 12,412.81 AED
- 50 gram gold bar: 31,032.01 AED
- 100 gram gold bar: 62,064.03 AED
- 250 gram gold bar: 155,160.06 AED
- 500 gram gold bar: 310,320.13 AED
- 1000 gram gold bar: 620,640.25 AED
Recent data indicates a slight dip in gold jewelry sales in the UAE, falling to 7.9 tons in the first quarter of 2025 due to prevailing high prices, as reported by FX News Today. The combined market capitalization of the Abu Dhabi and Dubai stock markets is estimated at approximately 4.1 trillion dirhams as of September 2025.
The increase in gold prices comes as investors seek refuge from economic uncertainty, highlighting the metal’s traditional role as a store of value during times of crisis. The market’s reaction underscores the sensitivity to global events and the ongoing search for stable investments.
