When the Dubai markets opened on Monday, the price of gold increased by Dh1 per gram. 24K increased from Dh344.5 per gram at the weekend market close to Dh345.5 per gram at 9am UAE time. The opening prices for the other varieties, 22K, 21K, and 18K, were Dh321.5, Dh308.25, and Dh264.25 per gram, respectively.
The US Federal Reserve’s interest rate policies, US President Donald Trump’s tariff policies, and central banks’ gold purchases have all influenced the price of yellow metal. Although tariffs have not specifically targeted gold, market responses to trade uncertainty have caused a notable change in trading patterns and had an effect on the price of gold.
Last month, gold prices broke beyond the $2,950 mark for the first time, reaching an all-time high. The outlook for gold remains positive because of the tense global geopolitical environment, even though a pullback after flirting with the $3,000 level is healthy,” stated Ipek Ozkardeskaya, senior analyst at Swissquote Bank. The numerous efforts by the Trump administration to cut the national budget caused investors to shift into long-term US Treasuries, according to Alex Kuptsikevich, chief market analyst at FxPro.
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