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Dubai: Gold prices continue to trade high, 24K above Dh600 per gram
Gold remains in a consolidation pattern, with $5,000 as a key level, as geopolitical risks, central bank buying, and a softer dollar continue to provide support
- PUBLISHED: Wed 11 Feb 2026, 10:07 AM
Gold prices continued to trade above Dh600 per gram in Dubai on Wednesday morning, as the precious metal rose globally due to support from the softer US retail sales and geopolitical tensions.
On Wednesday morning, 24K gold opened at Dh608.25 per gram. The prices for other types were: 22K at Dh563.24, 21K at Dh540.0, 18K at Dh462.75, and 14K at Dh361.0 per gram.
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Spot gold, reflecting the international market rate, maintained its key psychological level of $5,000 per ounce. It was trading at $5,053.49 per ounce at 9.30 am UAE time, up 0.9 per cent.
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The latest data published by the US revealed that the retail sales were unchanged in December as households scaled back spending on motor vehicles and other big-ticket items, potentially setting consumer spending and the economy on a slower growth path.
“After soft retail sales numbers, there's the expectation that perhaps, further and deeper rate cuts may be needed more imminently than previously thought,” said Kyle Rodda, a senior market analyst at Capital.com.
Dilin Wu, research strategist at Pepperstone, said the yellow metal remains in a consolidation pattern, with $5,000 as a key level, as geopolitical risks, central bank buying, and a softer dollar continue to provide support.
“Gold briefly dipped to around $4,400 last week but remained largely within the $4,630-$5,100 range. Long and short positions have alternated frequently, with daily charts showing multiple long bodies and extended wicks, indicating significant intraday swings,” said Wu.
