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Gold prices in Dubai gain over Dh14 per gram in 24 hours as geopolitical tensions support metal
Continued tensions between Ukraine and Russia and delays in peace negotiations support the precious metal, while central bank demand for gold could provide long-term gains
- PUBLISHED: Wed 11 Mar 2026, 9:38 AM
[Editor's Note: Follow Khaleej Times live blog amid US-Israel-Iran war for the latest regional developments.]
Gold prices were steady on Wednesday morning, but up more than Dh14 per gram from yesterday’s morning rate.
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According to Dubai Jewellery Group data, 24K gold price was trading at Dh627.25 per gram on Wednesday morning, down from Dh628.0 per gram last night’s close. But it is up by Dh14.25 per gram since Tuesday’s morning.
Among the other variants of the precious metal, 22K, 21K, 18K, and 14K were trading at Dh580.75, Dh557.0, Dh477.25, and Dh372.25 per gram, respectively.
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Spot gold was down 0.6 per cent at $5,202.08 per ounce while silver was trading at $88.12 per ounce, down 1.38 per cent.
Frank Walbaum, market analyst at Naga.com, said gold posted gains on Tuesday, although prices remain within a broader consolidation range.
“A softer US dollar and lower inflation concerns, after oil prices receded, supported the metal. Markets reacted to US President Donald Trump’s suggestion that tensions in the Middle East could come to an end soon. However, any renewed escalation in the region could push oil prices higher again, reviving concerns about persistent inflation, lifting US Treasury yields, and weighing on gold prices in the process. As a result, the market could remain highly sensitive to the developments in the Middle East,” he said.
At the same time, Walbaum added, continued tensions between Ukraine and Russia and delays in peace negotiations sustain a supportive geopolitical backdrop, while central bank demand for gold could provide long-term support.
“Looking ahead, monetary policy expectations could continue to change, with upcoming inflation and PCE data likely to influence sentiment and shape gold’s next move,” Walbaum added.
