Gold prices in Dubai have surged to unprecedented levels, with 24K gold reaching Dh510 per gram on Thursday, marking a significant increase of Dh25.75 over the week. This upward trend has been consistent, setting new record highs for four consecutive days. Similarly, 22K gold rose to Dh472.25 per gram, reflecting a Dh24 increase since the beginning of the year. Other variants, including 21K and 18K, were trading at Dh452.75 and Dh388.25 per gram, respectively, at the market opening on Thursday. Globally, spot gold was priced at $4,231.5 per gram, up by over one percent. According to Pepperstone, a leading brokerage firm, gold’s remarkable rally continues, driven by a weaker dollar and expectations of rate cuts. The metal has seen a 15 percent surge over the past month, with minimal pullbacks, indicating strong demand from both institutional and retail investors. Analysts suggest that gold is increasingly viewed as a core component of diversified portfolios, particularly amid concerns over elevated US equity valuations and potential tech bubbles. While short-term pullbacks may occur, the broader trend remains firmly upward.