Dubai Gold Rates Edge Higher in Early Trade Amid Global Market Trends

DUBAI — Gold prices continued their upward trend in Dubai on Friday, with the precious metal heading for its best weekly performance since January amid weaker oil prices and geopolitical uncertainty.

The 24K gold price was trading at Dh514.00 per gram on Friday morning, up from Dh510.50 per gram at Thursday’s close. Other variants were also higher, with 22K at Dh476.00, 21K at Dh456.25, and 18K at Dh391.25 per gram.

Globally, spot gold was trading at $4,267.89 per ounce, up 0.63 percent.

Naeem Aslam, CIO at Zaye Capital Markets, said investors are assessing the interaction between labour-market weakness, inflation pressure, and geopolitical risk. He noted that President Donald Trump’s comments on a potential deal to reopen the Strait of Hormuz could reduce oil-supply fears and remove part of gold’s immediate geopolitical premium.

However, Aslam added that lower energy prices could weaken inflation expectations, reduce Treasury yields, and strengthen expectations for easier monetary policy. “That combination would lower the opportunity cost of holding non-yielding bullion and could provide broader support after any initial safe-haven selling,” he said.

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