Dubai: Gold Prices Up Dh2.5 per Gram Amid US Tariffs
Gold prices in Dubai have increased by Dh2.5 per gram, reaching over Dh400, as global prices exceed $3,300 per ounce due to rising uncertainty from the ongoing US tariff disputes.
As of Thursday morning, 24K gold was priced at Dh400.25 per gram, while 22K, 21K, and 18K gold were listed at Dh370.75, Dh355.50, and Dh304.50 per gram, respectively.
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This surge follows US President Donald Trump’s announcement of potential new tariffs, including a 25% levy on imports from Japan and South Korea, and a 50% tariff on US copper imports, effective August 1.
Market analysts predict increased volatility as various sector-specific tariffs could further impact gold and other commodities.
Mark Haefele, Chief Investment Officer at UBS Global Wealth Management, noted that while tariffs are expected to remain high, they are unlikely to trigger a recession due to the resilience of the US consumer and adaptable global supply chains.
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Khaleej Times
