Dubai gold prices remained steady on Thursday morning despite trading well below this month’s highest level. Traders across the United Arab Emirates continued monitoring the market as global uncertainty influenced investor sentiment. The price of 24K gold opened at Dh546.75 per gram, slightly lower than Wednesday’s closing rate. Earlier this month, the same category reached a peak of Dh570.75 per gram.
Other gold categories also recorded stable prices during early trading hours. The price of 22K gold stood at Dh506.5 per gram, while 21K gold traded at Dh485.5 per gram. In addition, 18K gold reached Dh416.25 per gram, and 14K gold traded at Dh324.5 per gram. Retailers across Dubai continued reporting active customer interest due to the recent decline in prices.
Dubai gold prices encouraged more buyers to visit jewellery stores in recent days. Several jewellers said lower prices improved customer activity across the UAE market. At the same time, India’s decision to raise import duties on gold and silver increased regional demand. Many traders believe the policy shift redirected some buyers toward the UAE market. Consequently, jewellery stores experienced stronger sales and increased foot traffic.
Globally, spot gold traded near $4,533.5 per ounce during Thursday’s early session. Investors continued watching geopolitical developments and economic signals from the United States. Analysts explained that ongoing tensions in the Middle East still supported gold demand. Many investors often move toward precious metals during uncertain periods. Therefore, market volatility continued shaping global gold trading activity.
Financial experts also highlighted the growing importance of central bank purchases. Analysts said central banks remain one of the strongest long-term forces supporting gold prices. Despite market fluctuations, many countries continue increasing their gold reserves. As a result, analysts expect strong structural support for the precious metal over the long term.
Meanwhile, inflation concerns and possible US interest rate hikes continued affecting investor sentiment. Experts warned that higher bond yields could create additional pressure on gold prices. However, analysts still expect gold to maintain support because of continued central bank buying and global uncertainty. Investors now await further economic updates and upcoming policy signals from the US Federal Reserve.
Dubai gold prices may continue facing short-term fluctuations as geopolitical tensions remain elevated. Nevertheless, many traders and investors still expect strong regional demand in the coming weeks.
