Gold prices in Dubai staged a notable recovery on Friday morning, clawing back value after a sharp decline during the previous trading session. According to the latest figures from the Dubai Jewellery Group, 24K gold rose to Dh471.5 per gram, marking a clear rebound from Thursday’s closing rate of Dh465.25. This upward momentum was mirrored across other categories, with 22K, 21K, and 18K gold prices climbing to Dh436.75, Dh418.75, and Dh358.75 per gram, respectively.

This stabilization follows a volatile Thursday where prices plummeted by Dh14 per gram, tracking a global slump that saw the precious metal hit multi-year lows. Market analysts suggest that the current recovery is largely a technical correction, as oversold conditions triggered a round of short-term positioning. Moving forward, traders remain focused on upcoming US inflation data and potential shifts in Treasury yields, which continue to influence investor sentiment as the market braces for anticipated Federal Reserve interest rate adjustments in December.