Gold prices in Dubai continued their downward trend this Thursday, with 24K gold falling below the Dh500 mark to open at Dh491.75 per gram. This latest decrease marks a significant slide, with the precious metal shedding more than Dh55 throughout the month and over Dh11 in just the last 24 hours. Other variants followed suit, as 22K, 21K, 18K, and 14K gold saw corresponding drops to Dh455.25, Dh436.5, Dh374.24, and Dh291.75 per gram, respectively.

On the global stage, spot gold experienced similar pressure, dipping by 0.83 percent to trade at $4,077 an ounce. Analysts suggest that this decline, which has seen gold drop roughly 25 percent since late February, is largely driven by a cooling interest in safe-haven assets. Research strategist Ahmad Assiri notes that investors are pivoting away from geopolitical concerns toward aggressive US monetary policy, spurred by strong payroll data and persistent inflation figures. With the market nearing the $4,000 threshold and lingering uncertainty surrounding Federal Reserve leadership, the gold sector remains in a period of intense volatility.