Gold prices have climbed again in the Dubai market as renewed tensions linked to the Strait of Hormuz and the broader United States–Iran–Israel situation pushed investors toward safe-haven assets.
After a brief dip earlier in the week on hopes of a diplomatic breakthrough, prices rebounded sharply as uncertainty returned. In Dubai, 24-carat gold rose by AED 4.50 per gram to AED 582.50, while 22-carat gold increased to AED 539.25. Similarly, 21-carat gold reached AED 517.00, and 18-carat stood at AED 443.25 per gram.
Globally, spot gold prices also recorded gains, supported by a weaker US dollar and lower Treasury yields, making gold more attractive to international investors. Market analysts noted that ongoing geopolitical instability continues to influence price movements.
In contrast, gold prices in Saudi Arabia remained stable, reflecting a more cautious domestic response compared to the UAE’s faster reaction to global trends.
With Akshaya Tritiya approaching, demand for gold is also rising in key markets such as Kerala, further contributing to upward price pressure.
Experts suggest that the gold market is currently in a waiting phase, closely tracking geopolitical developments and economic indicators before establishing a clear trend.
