Dubai: Gold prices steady in early trade after rising Dh4.5 per gram day before
Gold prices were steady on Wednesday morning after jumping Dh4.5 per gram on Tuesday.
The 24K was selling at Dh402.75 per gram at the opening of the markets in Dubai on Wednesday, up Dh4.5 per gram since Tuesday morning.
Among the other variants of the precious metal, 22K, 21K and 18K were trading at Dh372.75, Dh357.5 and Dh306.25 per gram, respectively.
Spot gold was 0.6 per cent at Dh3,342.52 per ounce.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Aaron Hill, chief analyst at FP Markets, said geopolitical theatrics — particularly US President Donald Trump's hardline stance and potential flashpoint with world leaders — remain as ongoing drivers of volatility risks.
'In tandem, the softer labour market sentiment and easing inflation expectations lower immediate odds of Federal Reserve rate cut and sustain the bullish medium-term scenario for gold. The strength of the metal will depend upon whether such supportive fundamentals trump near-term risk swings over global trade news,' he said.
'A break above $3,328 on a sustained basis would reaffirm bullish pressure, while failure to hold above $3,293 risks unleashing further technical selling pressure. As such, gold is still positioned precariously — its next move resting on a delicate balancing act of central bank expectations, political posturing, as well as new information flow,' said Hill.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
7 minutes ago
- Zawya
Azizi Developments' Azizi Grand reaches 35% construction milestone
Dubai, UAE: Azizi Developments, a leading private developer in the UAE, has announced that construction at Azizi Grand in Dubai Sports City is now 35% complete. The 431-unit project is on track for its handover in Q1 2026, with steady progress being made across all major areas. The building's structure is 88% complete, while blockwork has reached 51%, internal plaster 43%, and tiling, façade installation, and elevator fittings are advancing in parallel. HVAC and MEP works stand at 19% and 16% respectively. The swimming pool is also taking shape, currently at 7% completion. With over 720 workers now deployed on-site to accelerate development, overall finishes are at 18%. Azizi Grand will comprise 431 spacious homes with a mix of studios, one-bedroom apartments and two-bedroom residences, as well as a fully equipped state-of-the-art gymnasium, two swimming pools, children's play areas, BBQ areas, and landscaped gardens, among a wide range of other health and convenience focused amenities. Mr. Farhad Azizi, Group CEO of the Azizi group of companies, said: 'We are pleased to see construction at Azizi Grand moving ahead steadily, with key milestones already completed across the core build stages. With its strategic location in Dubai Sports City and its emphasis on wellness-focused living, this development is shaping up to become a key residential landmark. We look forward to welcoming our valued investors and residents to their new homes in due course." Azizi Grand offers residents the best of luxury and sports, with a focus on modern, healthy, and sustainable living. With open, customizable layouts, spacious balconies that stretch across the entire lengths of the apartments overlooking the vast greenery surrounding the building, built-in shelving and cabinetry for tasteful storage in the bathrooms, built-in wardrobes and vanity units in the bedrooms, soft modern lighting, exquisite tiling, framed floor-to-ceiling double-glazed windows with breath-taking views, customizable open-plan kitchens with premium cabinets and appliances, and much more, Azizi Grand offers those who will reside in it truly unique and prestigious homes with an upscale living experience. Strategically located on Al Fay Road, Azizi Grand, a unique development within the popular Dubai Sports City, is at the heart of the action, yet remains at a comfortable distance from the daily grind of the city. Nestled among schools, sports academies, equestrian clubs, golf clubs, stadiums, and lush greenery, Azizi Grand is situated just minutes from Al Khail Road and Mohammed bin Zayed Road, making it one of the most accessible and strategically located areas in the emirate. Strategically located in Dubai Sports City, Azizi Grand is in close proximity to Motor City, the Dubai Autodrome, and Jumeirah Golf Estates, and just a short drive from Dubai Studio City, Dubai Marina, Bluewaters, the Expo site, and Al Maktoum International Airport — offering residents seamless connectivity to many of Dubai's key lifestyle and leisure destinations. Azizi Developments' Sales Gallery can be visited on the 13th floor of the Conrad Hotel on Sheikh Zayed Road. About Azizi Developments Azizi Developments is a leading developer based in Dubai, UAE. With more than 40,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. Azizi's residential and commercial properties are investor friendly, catering to all lifestyles. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper and an AED 2.5 billion opera, which is its gift to the city, as part of its cultural district at Azizi Venice. Azizi has a strong track record and sizeable project pipeline through its extensive land bank and strategic partnerships with Dubai's key master developers and is instrumental in developing world-class properties in MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, Dubailand, Al Furjan, Studio City, Sports City and Downtown Jebel Ali. About Azizi Developments Azizi Developments is a leading developer based in Dubai, UAE. With more than 40,000 homes successfully delivered to local and international investors and end users of over 100 nationalities, the developer prides itself on its extensive portfolio of modern luxury developments across Dubai's most sought-after residential and commercial destinations, its construction-driven approach, and its commitment to transparency and customer centricity. Azizi's residential and commercial properties are investor friendly, catering to all lifestyles. The developer makes it its international mission to develop lifestyles and enrich the lives of its residents with a focus on catalyzing the vision and development of the markets that it operates in. Azizi currently has around 150,000 units under construction, valued at several tens of billions of US dollars. The company is renowned for developing the world's second tallest skyscraper and an AED 2.5 billion opera, which is its gift to the city, as part of its cultural district at Azizi Venice. Azizi has a strong track record and sizeable project pipeline through its extensive land bank and strategic partnerships with Dubai's key master developers and is instrumental in developing world-class properties in MBR City, Palm Jumeirah, Sheikh Zayed Road, Dubai Healthcare City, Dubai South, City of Arabia, Al Furjan, Studio City, Sports City and Downtown Jebel Ali.
Zawya
8 minutes ago
- Zawya
Mideast Stocks: Middle Eastern stocks lower on geopolitics
Stock markets in the Middle East ended lower on Thursday with uncertainty looming after the U.S. decided to relocate personnel from the region ahead of nuclear talks with Iran. U.S. President Donald Trump said on Wednesday U.S. personnel were being moved out of the Middle East because "it could be a dangerous place", adding that the United States would not allow Iran to have a nuclear weapon. Saudi Arabia's benchmark index declined 1.5%, dragged down by a 1.2% fall in Al Rajhi Bank and a 3.3% decrease in Saudi Arabian Mining Company. The Saudi bourse retreated, erasing all recent recovery gains and pushing the index back towards early June levels. All sectors posted negative performances, indicating a pervasive risk-off sentiment during today's session, said Milad Azar, market analyst at XTB MENA. "While solid fundamentals offer a hopeful outlook, the market's reaction was more heavily influenced by geopolitical tensions," Azar said. "However, this impact may be temporary, and the market could reverse course." Dubai's main share index slid 2.3%, its biggest intraday fall in two months, with blue-chip developer Emaar Properties dropping 3.4%. In Abu Dhabi, the index finished 1.1% higher. The decision by the U.S. to evacuate personnel comes at a volatile moment in the region. Trump's efforts to reach a nuclear deal with Iran appear to be deadlocked and U.S. intelligence indicates that Israel has been making preparations for a strike against Iran's nuclear facilities. Iranian Defence Minister Aziz Nasirzadeh said on Wednesday that if Iran was subjected to strikes it would retaliate by hitting U.S. bases in the region. The Qatari index lost 0.8%, as almost all its constituents were in negative territory including petrochemical maker Industries Qatar, which was down 1.4%. Egypt's blue-chip index was down 1.3%. SAUDI ARABIA fell 1.5% to 10,841 Abu Dhabi lost 2.3% to 5,467 Dubai down 1.1% to 9,694 QATAR dropped 0.8% to 10,627 EGYPT down 1.3% to 32,512 BAHRAIN eased 0.2% to 1,918 OMAN down 1.1% to 4,543 KUWAIT slid 1.4% to 8,918 (Reporting by Ateeq Shariff in Bengaluru, editing by Ed Osmond)
Gulf Today
33 minutes ago
- Gulf Today
Shahriar Shahir Barzegar's elegant hoopoe Launches Global AI-Powered Franchise
Gulf Network Dubai-based health-tech innovator elegant hoopoe has officially announced its global expansion, launching an advanced AI-driven franchise platform engineered to set new standards in the international wellness industry. The venture is the creation of Shahriar Shahir Barzegar, a renowned entrepreneur celebrated for his foundational contributions to business systems and widely known as the 'Father of Franchising in the UAE.' The announcement confirms that the successful Dubai-born model is now being offered to international partners. At the core of the expansion is a powerful, turnkey solution for franchisees. Barzegar has developed a "plug-and-play" business model that integrates all critical operational needs—from digital marketing and client booking to clinical compliance and supply chain management—into a single, intelligent dashboard. This comprehensive system dramatically lowers the barrier to entry for entrepreneurs while guaranteeing that the brand's luxury standards are meticulously upheld in every clinic worldwide. "This isn't just a business—it's a blueprint," said Shahriar Shahir Barzegar during the announcement. "The platform is designed for seamless replication on a global scale. We're providing our partners with every tool they need to launch and grow, ensuring success from day one." The company's clinics, which are already expanding across the UAE, have earned a reputation for a range of high-end, evidence-based services. This includes personalized health plans developed by a certified dietitian and nutritionist , which are seamlessly managed through the platform to track progress and ensure client success. This strategic global rollout marks a significant milestone for the UAE's knowledge-based economy, proving that homegrown innovation can create globally competitive and highly scalable business solutions. The news positions elegant hoopoe as a major new player in the international health and wellness market. The elegant hoopoe franchise model now offers a unique and timely opportunity for investors and entrepreneurs to join a fast-growing, tech-enabled luxury brand with a proven track record and a clear path for international growth.
