Gold prices in Dubai opened the week with steady figures, coinciding with the auspicious start of the Navratri festival. According to data from the Dubai Jewellery Group, 24K gold is holding firm at Dh505.5 per gram, while 22K, 21K, and 18K variants are priced at Dh468, Dh448.75, and Dh384.75 per gram, respectively. This nine-day cultural event is traditionally a peak period for jewelry retail, as many residents view the purchase of gold coins and ornaments as a symbol of prosperity and good fortune.

On the global front, analysts are keeping a close eye on market volatility as gold hovers near $4,185 per ounce. Experts note that the precious metal is currently influenced by a delicate balance between a weakening US dollar and fluctuating Treasury yields. Investors are particularly cautious ahead of the upcoming US Consumer Price Index (CPI) report, which is expected to shape the Federal Reserve's future interest rate decisions. Market sentiment suggests that while lower inflation could provide a boost for gold, any signs of persistent inflationary pressure may trigger a shift in momentum, keeping traders on edge throughout the week.