Gold prices in Dubai have maintained a stable trajectory for the third week in a row, a trend largely attributed to the recent postponement of US military action against Iran. As of Tuesday morning, the 24K variant was trading at Dh547.25, while other common purities like 22K, 21K, 18K, and 14K saw only minor fluctuations. This period of price consolidation follows a stretch of volatility that has kept gold largely range-bound between Dh529.25 and Dh573 since mid-March.

The cooling of tensions stems from reports that President Donald Trump delayed planned strikes following direct requests from Gulf leaders, including UAE President Mohamed bin Zayed Al Nahyan. Despite this diplomatic breather, market analysts remain cautious. According to Vijay Valecha of Century Financial, the broader outlook for precious metals continues to face downward pressure. High oil prices, a strong US dollar, and climbing treasury yields are currently overshadowing the gold market, leaving investors with a moderately bearish outlook for both gold and silver in the immediate future.