Gold Prices Surge in UAE Amid Geopolitical Uncertainty and Fed Policy Expectations
The price of gold in the UAE continued to rise on August 5, driven by strong international bullion prices and safe-haven buying. According to current market information, the price of 24K gold is AED 495.50 per gram, while 22K gold is priced at AED 454.87 per gram, and 18K gold is AED 371.62 per gram.
The global spot price of gold has risen to AED 15,411.84 per troy ounce, indicating a gain of 2.47% for the day. This rally is attributed to uncertainty around geopolitics, expectations of Fed policies, and continued central bank buying.
For long-term investors, analysts recommend staggered investments due to the volatile nature of gold prices until the end of August. The predicted price range for gold in this period is between $3,580.75 to $4,645.91 per ounce, with a mean value of $4,113.33.
Dubai remains one of the world's largest retail gold trading hubs, offering competitive pricing and a wide selection of gold products.