Dubai Gold Prices Steady as Global Markets Look for Direction  

Gold prices in Dubai were stable at the beginning of the week, reflecting a calm global market as investors await key policy signals from the United States.  Gold Prices in Dubai

PC: News18

At 9 a.m. UAE time on Monday, the gold prices in Dubai remained steady. The 24-carat gold price remained the same at Dh317.5 per gram, and the 22-carat variant traded at Dh294 per gram. Similarly, 21-carat gold was priced at Dh284.5, and 18-carat gold stood at Dh244 per gram.  

Global Market Stability

Globally, spot gold remained stable at $2,623.16 per ounce, showing a modest increase of 0.04 percent. This stability was observed as markets closely monitored developments and awaited further clarity regarding the US Federal Reserve’s monetary policy direction. Investors were also watching for indications of how the upcoming presidency of Donald Trump might influence the global economic landscape.

Key Factors Driving Gold Prices

Gold prices experienced an increase today as investors focused on possible adjustments in U.S. policies. Much attention has been directed toward the expected significant policy changes under President Trump’s administration. These changes include anticipated shifts in tariffs and tax reforms, which are expected to play a major role in shaping economic trends. In addition to these domestic policy updates, broader uncertainties in the realm of geopolitics have also contributed to gold’s performance. These combined factors are influencing the precious metal’s trajectory as it moves forward into 2024.

Industry Insights

According to Rashad Hajiyev, founder and senior analyst at RM Capital, the price of gold has faced tough times in the last days of the year but will still end 2024 with a gain of around 27 percent.

Kelvin Wong, senior market analyst for Asia Pacific at Oanda, named geopolitical tensions as one of the main drivers of the upward trend of gold in 2025. The factors will remain influential next year, especially as the presidency of Trump unfolds with new policies.

Gold prices in Dubai, along with those in international markets, have continued to remain steady without significant fluctuations. Investors across the globe are closely observing a range of economic and geopolitical developments that have the potential to impact market dynamics. This period of stability reflects a cautious sentiment as market participants await clarity on several key factors. The outlook for 2025 remains uncertain and is expected to be heavily influenced by crucial policy decisions made by governments and central banks, as well as the progression of global tensions. These elements are likely to play a pivotal role in shaping the trajectory of gold prices in the coming year.