Dubai Gold Market Holds Firm Amid US-Iran Tensions

Dubai's gold market showed stability on Tuesday, maintaining its prices from Monday despite fluctuations in international markets. The Dubai Jewellery Group reported that the price of 24K gold remained at Dh489.75 per gram, while 22K was priced at Dh453.50 per gram and 18K at Dh372.75 per gram.

The stable local pricing comes as Dubai attracts jewellery shoppers and investors seeking competitive retail rates backed by internationally recognised benchmarks.

Global markets are closely watching the US labour market reports scheduled throughout the week, including Friday's nonfarm payrolls data, which could influence the direction of gold. Investors are also monitoring the prolonged conflict between the US and Iran, which has fuelled concerns over energy supplies and inflation.