Gold price in Dubai increased on Tuesday morning as oil prices dropped below $100 per barrel. The decline in energy costs reduced inflation pressure globally. As a result, investors shifted attention toward safe-haven assets. This movement helped the gold price in Dubai gain momentum in the early trading hours.
The price of 24K gold reached Dh573.50 per gram at market open. This marked an increase of Dh3.75 compared to the previous session. Meanwhile, other gold categories also recorded steady gains. The 22K variant traded at Dh531.00 per gram. Similarly, 21K gold stood at Dh509.25 per gram. In addition, 18K gold reached Dh436.50, while 14K touched Dh340.50 per gram.
Globally, gold prices also moved higher during the same period. Spot gold rose by 0.57 percent to $4,770.4 per ounce. At the same time, silver posted stronger gains in the market. It climbed 2.1 percent to $77.11 per ounce. These increases reflected renewed investor confidence in precious metals.
Market analysts continued to watch geopolitical developments closely. They highlighted the strong link between gold and Middle East tensions. Any shift in the region can quickly impact oil prices and the inflation outlook. Therefore, the gold price in Dubai remains highly sensitive to these global changes.
Experts also explained how rising tensions could influence yields. Higher yields may pressure gold prices in the short term. However, diplomatic progress could ease inflation concerns. This scenario may support further gains in bullion markets.
Oil prices continued to trend lower during the session. US crude traded at $96.8 per barrel, showing a clear decline. Brent crude also dropped to $97.93 per barrel. These decreases reflected falling demand concerns and market adjustments.
In addition, recent political actions added uncertainty to the market environment. The United States introduced a blockade targeting vessels linked to Iranian ports. This move aims to restrict oil exports and increase economic pressure. Analysts believe this strategy could push Iran toward renewed negotiations.
Investors now monitor both political and economic signals closely. Market sentiment continues to shift in response to these developments. Looking ahead, the gold price in Dubai may remain volatile amid persistent global uncertainty.
