Dubai gold prices remained steady on Thursday after recording a sharp decline over the past month. Dubai gold prices continued to attract attention as investors monitored global economic conditions, monetary policy expectations, and geopolitical developments that influenced the precious metals market.
The local gold market showed only limited movement during early trading. However, prices remained close to their recent lows after several weeks of losses. The latest figures reflected a cautious mood among traders and buyers across the UAE.
The price of 24K gold traded at Dh489.25 per gram during the morning session. Although the daily movement remained small, the 24K category has lost around Dh60 per gram over the past month. The decline highlights the pressure that has weighed on gold prices in recent weeks.
Other gold categories also traded within narrow ranges. The price of 22K gold stood at Dh453.00 per gram, while 21K gold traded at Dh434.50 per gram. Meanwhile, 18K gold reached Dh372.25 per gram, and 14K gold traded at Dh290.50 per gram.
Global precious metals also showed limited movement. Spot gold traded near $4,060 per ounce during morning trading. At the same time, silver edged slightly lower to around $59.84 per ounce.
Market analysts said several factors continue to influence gold prices. Investors remain focused on expectations for future interest rate decisions. Furthermore, uncertainty surrounding monetary policy continues to shape investment strategies across global markets.
Analysts explained that expectations for higher interest rates continue to reduce gold’s appeal. Many investors prefer assets that offer regular returns during periods of tighter monetary policy. Consequently, gold has struggled to regain stronger upward momentum.
Investment demand also appeared relatively soft. Major physically backed gold exchange-traded funds have not reported meaningful inflows in recent trading sessions. As a result, institutional demand has provided little support for the market.
Consumer demand has also remained weaker than expected. Lower retail buying has added further pressure to prices. Without stronger consumer activity, the market faces greater difficulty recovering from recent losses.
Geopolitical developments continue to influence investor sentiment as well. Financial markets remain alert while diplomatic discussions continue across the Middle East. However, many investors believe current negotiations have produced only limited progress.
Analysts also pointed to ongoing disagreements between the United States and Iran. Those tensions continue to create uncertainty across financial markets. Recent diplomatic disruptions have further encouraged investors to remain cautious.
Although geopolitical risks often increase demand for safe-haven assets, investors continue balancing those concerns against expectations for future monetary policy. Therefore, gold prices have remained under pressure despite continuing regional uncertainty.
Looking ahead, analysts expect economic data, central bank decisions, and geopolitical developments to remain the primary drivers of the gold market. Dubai gold prices will likely continue reflecting these global trends as investors and consumers closely monitor changing market conditions. Dubai gold prices remain an important indicator for both retail buyers and financial market participants across the UAE.
