Gold prices in Dubai saw a slight decline at the start of the week as investors weigh the impact of potential US interest rate hikes against ongoing global economic shifts. According to the latest data from the Dubai Jewellery Group, 24K gold dropped to Dh525.0 per gram, while 18K gold fell below the Dh400 mark, settling at Dh399.5. This downward trend was mirrored in the international markets, where spot gold dipped 0.45 percent, even as silver prices remained relatively stable.

The market landscape is currently being shaped by the Federal Reserve’s recent decision to raise interest rates, with further increases signaled for the near future. However, analysts point out that the easing of energy supply anxieties—following the successful rerouting of Saudi Arabian crude oil—has provided some relief to inflationary pressures. As crude oil prices settle, investors from the Middle East and Asia are beginning to reallocate capital back into gold, viewing the metal as a strategic asset amidst the evolving financial climate.