Dubai: Gold prices saw a slight dip in early trading on Thursday but continued to remain on the higher side, reflecting ongoing market volatility and investor sentiment.
At 9:00 AM UAE time, the price of 24K gold slipped to Dh322 per gram, a marginal decline from Dh322.25 per gram at Wednesday’s market close. On Wednesday, 24K had gained Dh1.75 per gram.
Other gold variants also experienced minor drops. The price of 22K fell by Dh0.25 to Dh298 per gram, following a Dh1.50 increase in the previous session. Similarly, 21K and 18K gold were priced at Dh288.50 and Dh247.25 per gram, respectively, in early trading.
Market expert Iakopa noted that investors are closely monitoring potential changes in President-elect Donald Trump’s proposed tariff policies. “Despite speculation of a more moderate approach, Trump’s firm rejection of these claims has heightened uncertainty around U.S. trade policies,” he said.
Iakopa added that gold continues to be buoyed by factors such as geopolitical tensions, strong central bank demand, and fears of rising inflation. “Trump’s protectionist policies and tariff plans could exacerbate inflationary pressures and disrupt global trade, reinforcing gold’s appeal as a safe-haven asset. Combined with elevated U.S. Treasury yields, these elements underline gold’s strategic importance amid persistent economic uncertainty,” he explained.
Gold’s performance is expected to remain under close scrutiny as global markets adapt to shifting political and economic landscapes.