Business
Dubai gold prices break records: What’s driving the rally and should you buy in 2026? – The Times of India
Dubai’s gold market delivered a giant surprise in 2025, marking one of the most dramatic rallies in recent history. What started as a modest year for bullion turned into a breakout performance, with the price of 24-carat gold climbing by more than Dh200 per gram and delivering massive gains for investors, collectors and everyday residents alike.
Gold’s remarkable rally in 2025
According to market data, the price of 24K gold opened the year at Dh318 per gram on January 1, 2025 and finished the year at Dh520 per gram on December 31, a jump of roughly 63.5 percent. This means that anyone holding physical gold throughout the year saw the value of their holdings rise by more than Dh200 per gram. The 22-carat variant also saw remarkable gains, climbing from about Dh294.50 to Dh481.50 per gram, roughly a Dh187 increase, while even 21K gold rose around Dh176.75 per gram over the same period. By contrast, the newly introduced 14K gold, launched in the UAE on November 29, posted a more modest 2.3 percent gain, reflecting its lighter weight and broader affordability for everyday wear.
Why gold took off
Several economic forces came together in 2025 to fuel this dramatic upswing. Given the safe-haven demand, global investors and central banks including those in the Gulf, shifted capital into gold as a hedge against market uncertainty and geopolitical risk, a pattern seen throughout 2025. According to reports, gold’s rally in 2025 was the strongest annual performance since the late 1970s, with prices soaring nearly 70 percent globally.
Dubai Gold Shock: 24K Prices Jump Over Dh200 Per Gram in One Year. Are You Sitting on a Fortune?
Interest rate dynamics with expectations of lower US Federal Reserve interest rates and the appeal of non-yielding assets helped lift gold’s allure. Lower real yields often make gold more attractive relative to bonds and other financial instruments. The Central Bank of the UAE increased its gold holdings significantly in 2025, growing reserves by about 26 percent to nearly $7.9 billion as global economic uncertainty persisted, a historic move that underscored gold’s strategic value. These factors combined to create a strong backdrop for prices, pushing bullion sharply higher even as other asset classes posted uneven returns.
Impact on Dubai and the Gulf region
For residents and investors in Dubai, long accustomed to the Gold Souk’s bustling trade and precious-metal culture, the surge translated into real-world gains. Retail buyers saw both jewellery and bullion values climb, lifting the wealth of long-term holders. With 24K gold prices consistently near or above Dh520 per gram in late December and into early 2026, bullion became a focal point for investment as much as adornment. At the same time, short-term volatility such as a near Dh18 drop in just one day toward the end of the year due to profit-booking in global markets, reflected how active trading and profit-taking can influence local UAE prices even amid a strong overall rally. Jewellers and bullion dealers across Dubai’s famous Gold Souk and regional markets noted the heightened interest, particularly from expatriate buyers and Middle Eastern investors seeking to protect wealth in an uncertain macroeconomic environment. The UAE’s competitive pricing environment, where making charges and taxes are relatively low, further incentivises local and international buyers alike.
Global gold context: Safe haven, surging demand
Dubai’s gold price story fits into a broader global trend. Precious metals surged worldwide in 2025 as investors raced toward safe havens amid geopolitical unrest and economic concerns. Gold topped record levels over $4,300 per ounce internationally, one of the metal’s best annual performances in decades.
Gold Made Dubai Richer in 2025: Why Prices Exploded and What It Means for 2026
Analysts and major institutions such as Deutsche Bank and Goldman Sachs forecast continued strength through 2026 and beyond, with projections ranging from $4,000 to over $4,900 per ounce by year-end, supported by sustained central bank buying and geopolitical tension. This global backdrop helped lift sentiment in Dubai and the broader Gulf, where gold remains culturally and economically significant.
What’s ahead for gold in 2026?
After a spectacular run in 2025, markets are closely watching how 2026 unfolds. Early data suggests that gold prices continued to hold near high levels in early January 2026, even after slight profit-taking in global markets. Forecasts by international analysts suggest continued upside potential if geopolitical risks and safe-haven demand remain strong. For Gulf investors, this means that gold remains a key hedge and wealth preserver, not just a jewellery purchase.
Bottom line: A golden year that redefined markets
Dubai’s gold surge in 2025, with 24K climbing more than 60 percent, marked a rare standout year for precious metals. From record price gains to heightened global demand and strong central bank involvement, gold’s rally reflected broader economic and geopolitical forces at play. As 2026 begins, many investors and analysts see bullion continuing to play a central role as a store of value, especially in a world marked by uncertainty and shifting financial landscapes.
Business
Your SBI YONO App Will Be Blocked If You Don’t Update Your Aadhaar? Details You Need To Know
New Delhi: A viral message is circulating in the social media regarding SBI, claiming that users must download and install an APK file to update their Aadhaar. The viral message has further claimed that if Aadhaar is not updated, the SBI YONO app will be blocked.
Fact-checking agency PIB has refuted the social media claim. PIB has stated that the claim being made in this post is misleading and FAKE.
PIB has further cautioned users to not fall prey to such fake messages. It tweeted, “Do NOT download any APKs or share personal, banking, or Aadhaar details. SBI does NOT ask for such information.”
It has also advised consumers to report suspicious messages to report.phishing@sbi.co.in for necessary action.
How to get messages fact-checked by PIB
If you get any such suspicious message, you can always know its authenticity and check if the news is for real or it is a fake news. For that, you need to send the message to https://factcheck.pib.gov.in. Alternatively you can send a WhatsApp message to +918799711259 for fact check. You can also send your message to pibfactcheck@gmail.com. The fact check information is also available on https://pib.gov.in.
Business
Stock market today: Nifty50 opens below 26,150; BSE Sensex down over 100 points – The Times of India
Stock market today: Nifty50 and BSE Sensex, the Indian equity benchmark indices, opened in red on Wednesday. While Nifty50 went below 26,150, BSE Sensex was down over 100 points. At 9:18 AM, Nifty50 was trading at 26,132.00, down 47 points or 0.18%. BSE Sensex was at 84,953.09, down 110 points or 0.13%.Analysts believe that equity markets are expected to move in a narrow range in the near term, as optimism from encouraging third-quarter business updates is offset by lingering geopolitical risks.Dr. VK Vijayakumar, Chief Investment Strategist, Geojit Investments Limited says, “The recent market movements have been devoid of any trend and clear direction. Actions in a few mega stocks are influencing the overall market disproportionately. For instance, yesterday despite positive institutional buying Nifty drifted down by 71 points, mainly due to sharp declines in two stocks- Reliance and HDFC Bank. The large volumes in these two stocks in the derivative and cash market indicate activity associated with settlement day. In other words, the sharp dips in these stocks have nothing to do with their fundamentals; it is more technical in nature.” “Going forward, there is scope for high volatility caused by events and news. Trump tweets and actions can always influence the market. Another important event which investors should closely watch is a possible Supreme Court verdict on Trump tariffs very soon. If the verdict goes against the reciprocal tariffs it will create huge volatility in stock markets.”Global cues were mixed. Wall Street closed higher on Tuesday, supported by a strong rally in semiconductor stocks driven by renewed enthusiasm around artificial intelligence. Shares of Moderna also advanced, while the Dow Jones Industrial Average climbed to a fresh record high.Asian markets paused on Wednesday after a strong start to the year. Japanese equities declined amid rising tensions with China, prompting some investors to turn cautious despite the broader strength seen in global stocks so far this year.On the institutional front, foreign portfolio investors were net sellers of Indian equities worth Rs 107 crore on Tuesday, according to exchange data. Domestic institutional investors, however, continued to provide support to the market, recording net purchases of Rs 1749 crore.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)
Kayla Epsteinand
Osmond Chia
Getty ImagesUS President Donald Trump has said Venezuela “will be turning over” up to 50m barrels of oil to the US, after a surprise military operation that removed President Nicolás Maduro from power.
The oil will be sold at its market price, Trump posted on social media, adding that the money would be controlled by himself and used to benefit the people of Venezuela and the US.
His comments come after he said the US oil industry would be “up and running” in Venezuela within 18 months and that he expected huge investments to pour into the country.
Analysts previously told the BBC it could take tens of billions of dollars, and potentially a decade, to restore Venezuela’s former output.
Trump posted on Truth Social on Tuesday: “I am pleased to announce that the Interim Authorities in Venezuela will be turning over between 30 and 50 MILLION Barrels of High Quality, Sanctioned Oil, to the United States of America.
“This Oil will be sold at its Market Price, and that money will be controlled by me, as President of the United States of America, to ensure it is used to benefit the people of Venezuela and the United States!”
His comment came a day after Delcy Rodríguez, formerly Venezuela’s vice-president, was sworn in as its interim president. Maduro has been brought to the US to face drug-trafficking and weapons charges.
On Monday the US president told NBC News: “Having a Venezuela that’s an oil producer is good for the United States because it keeps the price of oil down.”
Representatives from major US petroleum companies planned to meet the Trump administration this week, the BBC’s US partner CBS reported.
Analysts who previously spoke to the BBC were sceptical that Trump’s plans would have a major impact on the global supply – and therefore price – of oil.
They suggested that firms would look for reassurance that a stable government was in place, and even when they did invest, their projects would not deliver for years.
Trump has argued in recent days that American oil companies can fix Venezuela’s oil infrastructure.
The country has an estimated 303bn barrels – the world’s largest proven reserve – but its oil production has been in decline since the early 2000s.
The Trump administration sees significant potential for its own energy prospects in Venezuela’s reserves.
Increasing the country’s production of oil would be expensive for US firms.
Venezuelan oil is also heavy and more difficult to refine. There is only one US firm, Chevron, currently operating in the country.
Asked for comment about Trump’s plans for US oil production in Venezuela, Chevron spokesman Bill Turenne said the company “remains focused on the safety and wellbeing of our employees, as well as the integrity of our assets”.
“We continue to operate in full compliance with all relevant laws and regulations,” Turenne added.
ConocoPhillips, a major US oil company that no longer has a presence in Venezuela, “is monitoring developments in Venezuela and their potential implications for global energy supply and stability”, said spokesman Dennis Nuss.
“It would be premature to speculate on any future business activities or investments,” Nuss said.
A third company, Exxon, did not immediately respond to requests for comment.
While justifying the seizure of Maduro from Caracas, Trump also claimed that Venezuela “unilaterally seized and stole American oil”.
Vice-President JD Vance echoed those claims on X after Maduro was taken, writing that “Venezuela expropriated American oil property and until recently used that stolen property to get rich and fund their narcoterrorist activities”.
The reality is more complex.
US oil companies have a long history in Venezuela, extracting oil under licence agreements.
Venezuela nationalised its oil industry in 1976 and in 2007, President Hugo Chavez exerted more state control over the remaining foreign-owned assets of US oil firms operating in the country.
In 2019, a World Bank tribunal ordered Venezuela to pay $8.7 billion to ConocoPhillips in compensation for this 2007 move.
That sum has not been paid by Venezuela, so at least one US oil company has outstanding compensation which is owed to it.
But BBC Verify’s Ben Chu said the claim Venezuela has “stolen” American oil is too simplistic, as experts said the oil itself was never actually owned by anyone except Venezuela.
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