Dubai gold prices touched a record high of Dh429 per gram on Friday before easing slightly later in the day, according to Dubai Jewellery Group data.
Rates for 24K dropped to Dh427.5 per gram, while 22K settled at Dh395.75 per gram after hitting an all-time high. Spot gold also held steady near $3,551 per ounce, reflecting strong investor interest amid global economic uncertainty.
Rising prices are shifting consumer trends, with shoppers increasingly preferring lightweight and affordable jewellery. Analysts note that the rally is driven more by economic risks and market instability than expectations of interest rate cuts.