Dubai Gold Prices Hold Steady as Silver Gains 0.8%

Gold prices in Dubai and the UAE held steady on Friday morning, according to data from the Dubai Jewellery Group. The price of 24K gold was trading at Dh526.75 per gram, while 22K was at Dh487.25 per gram.

The prices for other variants of gold were also stable: 21K traded at Dh467.25 per gram, 18K at Dh400.5 per gram, and 14K at Dh312.5 per gram. Spot gold was steady at $4,366 an ounce.

Silver, however, gained 0.8% to $66.12 an ounce. Analysts pointed out that the Federal Reserve's decision was widely anticipated by investors, but Chair Kevin Warsh's comments on inflation being too high weighed on gold prices.

Looking ahead, traders will monitor potential rate increases from major central banks and any additional signals from the Fed this year. 'Softer messaging' may ease yields and help gold rebound, while hawkish indications could lift yields and pressure gold.