Dubai Gold Market Sees Morning Gains Amid Geopolitical Tensions
Gold prices in Dubai saw a modest uptick during early trading on Thursday, as global investors kept a close watch on escalating US-Iran rhetoric and high-profile diplomatic meetings between President Donald Trump and Chinese President Xi Jinping. The 24K gold rate climbed to Dh566.5 per gram, marking an increase from the previous day’s closing price of Dh563.75. Other variants also followed this upward trend, with 22K, 21K, 18K, and 14K gold all recording gains. While spot gold rose by 0.1 percent to $4,702.96 per ounce, silver moved in the opposite direction, dipping by 1.85 percent to trade at $86.91 per ounce.
Market analysts suggest that gold’s resilience is bolstered by more than just short-term news cycles, with consistent central bank purchasing serving as a primary driver. Data from the World Gold Council shows a notable 3 percent year-on-year increase in net central bank gold buying during the first quarter of 2026. Experts believe this reflects a strategic push toward reserve diversification as geoeconomic risks mount. Even with inflationary pressures and currency fluctuations, gold is reclaiming its status as a vital safe-haven asset. While prices may experience short-term volatility, the combination of ETF inflows, central bank support, and a broader demand for value preservation provides a strong medium-term foundation for the precious metal.