Dubai Gold Prices Slide Amid Geopolitical Tensions

Dubai's gold market remained steady on Saturday, but still reflected softer international bullion prices. The price of 24K gold stood at Dh488.50 per gram, down from Dh490.00 on Friday, a decline of Dh1.50. This follows another volatile week for gold, with investors balancing geopolitical risks against expectations for US monetary policy.

The drop in gold prices was mirrored across all major categories: 22K gold fell to Dh452.25 per gram from Dh453.75, while 18K gold slipped to Dh371.75 per gram, compared with Dh373.00 a day earlier. Each category registered a decline of Dh1.50 per gram.

Internationally, spot gold edged 0.1 percent higher to $4,052.78 per ounce on Friday after suffering a sharp decline in the previous session. Despite this modest recovery, bullion remained well below its record highs reached earlier this year.