Why did gold prices in Dubai drop by nearly Dh10 per gram in just 24 hours, and how is this linked to global economic developments?

Gold prices in Dubai saw a sharp drop of nearly Dh10 per gram within 24 hours, with 24K gold falling to Dh378.5 per gram on Thursday morning from Dh388.25 the previous day. This decline mirrors global trends, where spot gold dipped below $3,200 per ounce to around $3,193.34. The drop is largely attributed to improved trade sentiment after the US and China agreed earlier this week to reduce tariffs and implement a 90-day pause, easing investor concerns and reducing demand for safe-haven assets like gold. What’s your view—do you think this dip presents a buying opportunity, or will prices fall further?

Add your Comment:


+