Could UAE Gold Prices Fall if Trump Secures Trade Deals?
Dubai – Gold prices in the UAE have started the week under pressure, raising hopes among buyers for a potential price drop.
As the July 9 deadline approaches for key trading partners to strike a deal with the U.S., there is speculation that successful negotiations could lead to a decline in gold prices.
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Currently, the price for 22K gold in Dubai stands at Dh372.25 per gram. Market sources indicate that if a trade deal is reached, prices could fall to as low as Dh365 per gram.
Analysts suggest that the uncertainty surrounding the U.S. economy and tariff situations has kept gold prices elevated. A resolution could ease these concerns and trigger a significant price drop.
Recent weeks have seen a decline in sales at jewelry stores, attributed to the current pricing, which shoppers find mentally taxing.
Retailers believe that a trade deal could provide the relief needed in the gold market, benefiting both buyers and sellers.
As the situation develops, all eyes are on President Trump’s announcements, which could dramatically influence gold prices in the coming days.
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