UAE Gold Prices Reach Record High: Experts Predict Further Surge Beyond $3,000
Gold prices in the UAE have reached unprecedented levels, with the yellow metal hitting a record high of $3,000 per ounce.
Analysts attribute this surge to ongoing geopolitical tensions, the impact of U.S. tariffs, and a weakening dollar, which have driven investors to seek safe-haven assets.
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As of the latest reports, gold prices closed at $2,986.65 per ounce, reflecting a 0.23% increase. In Dubai, the price for 24K gold soared to Dh360.75 per gram, while other purities also saw significant gains.
Experts suggest that concerns over the stability of the U.S. economy, coupled with the Federal Reserve’s cautious stance regarding interest rates, could further elevate gold prices.
Recent developments, including U.S. President Donald Trump’s tariff threats on European imports, have intensified market uncertainty, prompting investors to flock to gold as a reliable hedge.
Joseph Dahrieh, managing principal at Tickmill, noted that the evolving geopolitical landscape, including potential trade disputes, could continue to boost gold’s appeal.
He cautioned, however, that a potential ceasefire in the Russia-Ukraine conflict might alter market sentiment, possibly impacting gold’s bullish trend.
With the dollar trading below the 104 level, gold remains an attractive option for international investors. Market analysts predict that ongoing economic challenges and geopolitical developments will keep driving gold prices higher in the near future.
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Khaleej Times
