Sharp Jump In Dubai Gold Rate! 24K Gold Rises By Rs 12,262 Per 100 Gram on July 12; Will The Rally Continue?

Dubai Gold Rate Today: The precious metal became more valuable on Saturday, after gold rates today surged significantly amid escalating geopolitical tensions and concerns around United States trade tariffs. The gold rate in Dubai witnessed a sharp surge of Rs 12,262 per 100 grams (for 24K) on Saturday.

The jump in Dubai gold rate today is a reflection of the worldwide surge in the price of the yellow metal. Dubai, which is also known as the 'City of Gold', is popular for gold across the world, apparently because of the lower taxes on the yellow metal and high purity and quality.

Dubai Gold Rate Today

For those who are planning to purchase gold in Dubai today, here are the latest rates of the precious metal as of Saturday, July 12. The price of 24 karat gold in Dubai increased by Rs 1,226 per 10 grams to Rs 94,457 per 10 grams. Likewise, the price of 22 karat gold in Dubai surged by Rs 1,110 per 10 gram to Rs 87,448 per 10 gram. Similarly, the price of 18 karat gold in Dubai increased by Rs 911 per 10 gram to Rs 7547 per 10 gram.

Over the past few weeks, the price of gold in Dubai and across the world has surged significantly, especially due to rising geopolitical tensions and stock market volatility.

International Gold Rates

The international gold rate stood at $ 3,330 per ounce on Friday and gained for a third straight session as it was supported by safe-haven demand amid escalating trade tensions. United States President Donald Trump recently announced a 35% tariff on Canadian imports from August 1 and signalled plans for 15-20% blanket tariffs on most other trade partners.

Will The Gold Rally Continue?

The gold prices in the international markets are in their consolidation phase, hence the current scenario is favourable for another sharp surge in the price of the precious metal over the past few weeks.

"The gold prices in international markets is in a consolidation phase and such consolidation almost always prepares a launch pad for the yellow metal to move in an upward trend. Over the last two weeks, stable dollar and firming US bond yields have placed a downward pressure on the gold prices. Technical support of gold is stated to be at US$ 3,297 and US$ 3,248," noted Emkay Global in its report.

Earlier in 2025, a sudden surge in demand for gold from China emerged as another factor contributing to the gold price rally, apart from Donald Trump.

Which Factors Are Likely To Impact Gold Price Trend?

"Current focus of the markets is on two factors, The first is the direction of US interest rates. With the Fed on hold as it is still unclear about the likely impact of the tariffs on the US retail prices, one of the major triggers for gold is absent," noted Emkay Global in its report.

Disclaimer: The write-up is just for information purposes, and is not a recommendation to buy, sell or hold. We have not done fundamental or technical analysis and have no opinion on article mentioned. Neither, the author nor Greynium Information Technologies should be held liable for any losses. Please consult a professional advisor.