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UAE Moments
21-05-2025
- Business
- UAE Moments
Dubai Gold Prices Drop Dh34 in a Month—More Declines Ahead?
Gold just lost some of its glitter—and your wallet might thank you for it. In just one month, Dubai gold prices have slid Dh34 per gram, falling from Dh420 in April to Dh386 by May 18, according to recent market data. Globally, gold prices have dipped from a record $3,500 per ounce to $3,201, marking an 8.5% drop. But wait—analysts say we could see it slip below $3,000 soon. So what's behind the price drop? It's not magic—it's momentum. Analysts attribute the fall to a rising global risk appetite, easing geopolitical tensions, and progress in US-China trade talks—all of which reduce the demand for safe-haven assets like gold. 'We have seen a strong gold rally from $3,000 to $3,500, fuelled by concerns about tension between the US Federal Reserve and the US President Donald Trump administration, trade war and geopolitical tensions,' said Wael Makarem, financial markets strategist lead at Exness. 'But with things easing on both the trade and geopolitical fronts, risk appetite has improved—and this weighed on the gold price,' he added, noting that gold could drop below $3,000 if stability continues. That growing appetite for risk is visible in stock markets too. Makarem pointed out a 20% rebound in US indices, with European ones also nearing record highs—a clear sign that investors are shifting focus. Ahmed Negm, head of market research for MENA at echoed the sentiment, saying that without fresh optimism in the gold market, 'risky assets such as cryptocurrencies will be in high demand and rise.' Not all experts are hitting the panic button, though. Farah Mourad from Equiti believes the $3,000 mark will act as a 'strong cushion,' especially since central banks and institutional buyers had scooped up gold when it was between $2,800 and $3,000. She suggests the correction was expected: 'We are not worried about this correction because it corrected another momentum that was not that logical.' Ole Hansen, head of commodity strategy at Saxo Bank, confirmed gold is seeing its steepest correction since 2023 but remains optimistic in the long run. 'Several key structural drivers remain intact,' he said, referencing central bank demand, inflation hedging, and global debt concerns as long-term support pillars. Bottom line? If you've been waiting for the gold price to dip before buying, this might just be your moment—but keep an eye on the $3,000 threshold. That's where the real battle begins.
Khaleej Times
20-05-2025
- Business
- Khaleej Times
UAE: Gold prices fall over Dh5 per gram on Monday amid positive US-China trade talks
Gold prices fell over Dh5 per gram to below Dh400 in Dubai on Monday morning as the precious metal fell below $3,300 per ounce amidst positive US-China trade talks and strengthening of the US dollar. At 9am UAE time, 24-karat opened at Dh395.25 per gram, down from around Dh400.5 per gram at the close of the markets last week. Among the other variants, 22-karat, 21-karat and 18-karat fell to Dh366, Dh350.75 and Dh300.75 per gram, respectively. Spot gold was trading at $3,277.53 per ounce, down 1.5 per cent. On Sunday, the US and China ended trade talks on a positive note in order to reduce the US trade deficit. The two countries imposed tit-for-tat tariffs on each other, triggering a trade war that fuelled fears of a global recession. Linh Tran, a market analyst at said precious metal fell due to progress in US-China trade negotiations and the notable rebound of the US dollar. The US media earlier reported that the Trump administration is reportedly considering cutting tariffs on Chinese goods from 145 per cent to 50 per cent — a move widely interpreted by markets as a step toward easing tensions after a series of tariff hikes and retaliatory measures in recent weeks. 'The immediate market reaction was a pullback in safe-haven assets such as gold, while risk appetite modestly improved across equities and currencies,' said Tran. Beyond trade factors, gold's decline was also amplified by the strength of the US dollar.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
Dubai: Gold prices slip in early trade on Tuesday
Gold prices slipped at the opening of the markets on Tuesday after touching Dh400 per gram on Monday. The Dubai Jewellery Group data showed 24K trading at Dh399.0 per gram on Tuesday morning, down from Dh400 per gram at the close of the markets on Monday. Among the other variants, 22K, 21K and 18K slipped to Dh369.5, Dh354.25 and Dh303.75 per gram, respectively. Globally, the precious metal was trading at $3,311.35 per ounce, down 0.74 per cent. It previously slipped below $3,300. Rania Gule, senior market analyst at said the yellow metal pullback reflects the market's reaction to global economic variables, particularly concerning the trade relations between the United States and China. 'Growing optimism about the improvement of these relations, following positive comments from US Agriculture Secretary Brooke Rollins about daily talks between the two countries regarding tariffs, led investors to reduce their positions in gold as a haven. This shift in sentiment has negatively impacted investor appetite for safe-haven assets like gold, causing it to drop below the $3,300 level, a noticeable decline after last week's record highs,' she added. 'However, gold remains a haven for investors during times of economic uncertainty, suggesting that this decline may be temporary. While the trade relationship between the US and China is a key driver of risk appetite in the markets, there are still concerning factors at the global economic level that could support gold's long-term stability,' added Gule.
Khaleej Times
27-04-2025
- Business
- Khaleej Times
Gold prices in Dubai: Rates to stay high amid US-China tariff row confusion, geopolitical tensions
The confusion about the tariff war between the US and China will keep gold maintaining its safe-haven status and keep prices high despite some signs of relations improving between the world's two largest economies. In addition, expectations around the easing of monetary policy and geopolitical tensions in the Middle East will also support the precious metal in the coming months. After hitting a record high of $3,500 per ounce globally and Dh420 per gram in Dubai last week, the precious metal slipped $3,318.47 per ounce and Dh400 per gram over the weekend. Analysts expect gold could soon touch $3,450 again if the economic and geopolitical uncertainties persist. 'Tensions between the world's two largest economies intensified further with reports that China has cancelled a series of Boeing aircraft orders, citing a need to 'reassess strategic priorities'. Although Chinese authorities have not issued any official statements regarding the move, analysts widely interpret this as a form of indirect economic retaliation, meant to signal that Beijing is also capable of leveraging market power to apply pressure on Washington,' said Linh Tran, market analyst at The precious metal rally slowed after the US and China exempted certain goods from tariffs in the growing tariff war between the two countries. US President Donald Trump said on Friday that negotiations with China on tariffs are underway, and Beijing denied any talks taking place with Washington DC. China has reportedly warned that it will retaliate against any country that cooperates with the US in ways that undermine Beijing's interests. 'As the US-China trade war risks spilling over to other countries, global investors are turning increasingly cautious. In this climate, gold remains a strategic safe haven, particularly as capital flows exit equities and other risk assets in search of safety,' she added. US recession concern Ahmad Assiri, research strategist at Pepperstone, said while the market looks for direction, should the pace of selling increase, technical support is seen at the psychological level of $3,300 and $3245. 'A resurgent dollar or higher US equity prices could also test gold's resolve, making further profit-taking of gold longs into rallies a possible tactical move,' he said. Assiri added that one of the compelling reasons that is holding metal is the evolving risk of a US economic recession in the coming 12 months, which is currently implied at 52 per cent. 'In an environment where the US recession probability could go either way, where the data will guide the market's assumptions, gold shines as a powerful safeguard against downside growth risk for institutions and traders alike.' Rate cuts, regional tension Beyond trade concerns, Linh said monetary policy remains a key pillar supporting gold's uptrend. 'Signs of cooling inflation have quickly reshaped expectations for the US Federal Reserve's policy trajectory. The market now leans toward the likelihood of rate cuts beginning in September, or potentially even earlier if economic data continues to soften. In such an environment, gold tends to thrive,' she added. In his latest remarks, Fed chief Jerome Powell struck a cautious tone, acknowledging strong March retail sales but emphasising that economic growth remains fragile. He reiterated the Fed's readiness to act if more definitive signs of slowdown emerge. These dovish signals have further strengthened the belief that a rate-cutting cycle is approaching — a historically bullish development for gold. 'The confluence of trade conflict, rate cut expectations, and geopolitical uncertainty has propelled gold to its latest all-time high near $3,385/oz. If no major policy or economic shocks emerge to reverse the trend, and if current drivers remain intact, gold could continue climbing toward key psychological levels such as $3,400 and $3,450 in the near term."
Khaleej Times
01-04-2025
- Business
- Khaleej Times
Dubai gold prices at new record high, 22K surges above Dh350 per gram
Gold prices continued to scale new highs in Dubai on Tuesday, as 22K surpassed Dh350 per gram in early trade. The Dubai Jewellery Group data showed 24K opening at Dh379 per gram while 22K was selling at Dh350.75 per gram. Among the other variants, 21K and 18K opened at Dh336.5 and Dh288.25 per gram, respectively. Gold has gained approximately Dh62 per gram in the first three months of 2025. Globally, gold was trading at $3,143.94 per ounce, up 0.83 per cent. It ended the first quarter of 2025 with nearly 20 per cent. Linh Tran, market analyst at said this growth is supported by an ideal environment, including concerns over US government tariff measures, global geopolitical instability, expectations of Federal Reserve interest rate cuts, and strong central bank demand. 'These are all factors driving capital flows into gold as a safe-haven asset, helping the precious metal maintain strong momentum throughout the first quarter. As a defensive asset against risks, gold has risen nearly 20 per cent in Q1 2025, recording the largest quarterly increase in nearly 40 years,' said Tran. She elaborated that financial market volatility, especially investors' risk aversion to uncertainties, has made gold the preferred choice.
