Gold and silver prices opened lower on Thursday. However, safe haven demand continued to shape investor sentiment. Traders tracked fresh global risks closely. At the same time, safe haven demand remained firm across major markets.
In Dubai, 24K gold traded at Dh625.75 per gram. The rate fell from Dh628.25 on Wednesday evening. Meanwhile, 22K gold traded at Dh579.25 per gram. Additionally, 21K gold stood at Dh555.50 per gram.
Lower purity variants also declined. For instance, 18K gold traded at Dh476.25 per gram. Similarly, 14K gold reached Dh371.50 per gram. Buyers reacted cautiously to shifting global signals.
On the global stage, spot gold traded at $5,198.52 per ounce. The metal slipped 0.17 percent during early trade. Despite this dip, analysts noted steady safe haven demand.
Silver prices also moved lower. In Dubai, silver traded at Dh330.25 per ounce. The metal dropped 1.2 percent during the session. Nevertheless, investors continued to hedge against uncertainty.
Several global factors supported bullion markets. Ongoing tariff disputes increased concerns about trade disruptions. As a result, investors sought protection in precious metals. Furthermore, geopolitical strains added to the cautious mood.
The US administration introduced a new 10 percent global tariff this week. Officials also signaled the possibility of higher rates. Consequently, markets feared renewed trade friction. Many investors responded by shifting funds into gold and silver.
Meanwhile, discussions between Washington and Tehran resumed. Market participants watched these talks carefully. Any setback could trigger stronger safe haven demand. Therefore, traders remained alert to diplomatic developments.
Tensions in Eastern Europe also influenced sentiment. In addition, instability in parts of Latin America created further uncertainty. These factors combined to keep bullion attractive.
JPMorgan Chase revised its long-term gold forecast upward. The bank now expects gold to reach $4,500 per ounce over time. Moreover, it maintained a 2026 year-end projection of $6,300 per ounce. Analysts at the bank expressed confidence in gold’s structural strength.
They pointed to diversification trends among global investors. Central banks and institutions continued to increase gold exposure. Therefore, many experts believe prices could climb further.
Tony Sage, chief executive of Critical Metals, highlighted renewed buying interest. He noted that investors responded quickly to trade and political risks. According to him, uncertainty often fuels bullion rallies.
Although prices eased on Thursday, underlying support remained visible. As global tensions persist, precious metals could retain momentum. For now, traders will monitor policy moves and diplomatic talks.
