Gold prices in Dubai saw a modest increase on Friday morning as investors awaited critical US payroll data. According to the latest figures from the Dubai Jewellery Group, 24K gold climbed to Dh504.25 per gram, while 22K gold rose to Dh467.0 per gram. This upward trend extended across other categories, with 21K, 18K, and 14K gold also seeing gains during the early trading hours. Globally, spot gold showed resilience, trading at $4,188 per ounce, reflecting a 0.37 percent increase.

Market experts suggest that while gold is showing short-term strength, it remains in a delicate position as it navigates a challenging economic landscape. Simon-Peter Massabni of XS.com noted that the metal is currently feeling the weight of a strengthening US dollar and rising Treasury yields, which dampen the appeal of non-yielding assets. He emphasized that unless there is a significant cooling in yields or a shift in the dollar’s trajectory, gold’s potential for a sustained recovery remains capped. For now, investors are keeping a close watch on monetary policy expectations, which continue to act as the primary driver for price volatility in the precious metals market.