Gold prices in the UAE have slipped below the Dh500 per gram threshold for the second week in a row, settling at Dh496.25 for the 24K variant as of Tuesday morning. This decline follows a drop of Dh9.5 from Monday’s closing figures. The downward trend has also affected other gold categories, with 22K, 21K, 18K, and 14K gold trading lower at Dh459.50, Dh440.50, Dh377.75, and Dh294.50, respectively. Globally, the precious metal faced further pressure, seeing a 1.4 percent decline, while silver prices also saw a significant dip of approximately 4 percent.

Market experts suggest that the recent strength of the US dollar, combined with shifting structural patterns, points toward a bearish outlook for gold in the near term. Analysts, including Vijay Valecha of Century Financial, note that gold’s inability to maintain key support levels last week has reinforced this negative momentum. With technical resistance levels acting as a ceiling, investors are being warned that any minor price rallies could be viewed as selling opportunities, suggesting that the yellow metal may continue to struggle in the coming weeks.