Dubai Gold Prices Surge to Three-Month High
Gold prices in Dubai have hit their highest level in three months, nearing Dh560 per gram for 24K gold. The precious metal has been trading upwards this month, with 24K gold reaching Dh559.50 per gram at the market open on Monday, a gain of Dh3.5 over the weekend.
The global spot price of gold was also up 0.58% as of 9:10am UAE time, hitting its highest level since mid-May at $4,641.5 per ounce. Silver lost 0.37%, trading at $68.95 per ounce.
Analysts attribute the rise in gold prices to lower US Treasury yields and a weakened dollar, as well as persistent policy uncertainty. Naeem Aslam, CIO of Zaye Capital Markets, said that while Trump's pause on proposed tariffs against Canada may soften demand for defensive assets, it does not directly remove gold's sensitivity to real yields, currency moves, fiscal conditions, and geopolitical hedging.