Gold prices in Dubai remained relatively flat during Thursday morning trading, continuing to hover significantly below the highs observed earlier this month. As the market opened, 24K gold was priced at Dh546.75 per gram, marking a slight dip from the previous day's close of Dh547.50. This figure remains well under the monthly peak of Dh570.75 recorded on May 11. Meanwhile, other gold variants also reflected this trend, with 22K, 21K, 18K, and 14K gold trading at Dh506.50, Dh485.50, Dh416.25, and Dh324.50 per gram, respectively, as spot gold held firm at $4,533.5 per ounce.

Market analysts suggest that the precious metal is currently navigating a complex environment influenced by US monetary policy and global geopolitical tensions. Experts like Carsten Menke of Julius Baer point to central bank acquisitions as a key structural support for gold, even as market volatility persists due to ongoing conflicts. Simultaneously, strategists such as Wael Makarem highlight that investors are keeping a close watch on inflation risks and the potential for US interest rate adjustments. While geopolitical uncertainty and rising energy costs continue to create challenges, sustained central bank interest is expected to provide a necessary buffer against further downside risks in the near term.