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Gold prices slip from a three-week high in early trade in Dubai
Analysts say the $5,000 level is no longer a rigid psychological ceiling, but a new structural price floor as US Supreme Court’s decision to strike down certain tariffs did not eliminate uncertainty
- PUBLISHED: Tue 24 Feb 2026, 9:48 AM
Gold prices slightly dipped at market opening of the trading in Dubai on Tuesday, after reaching a nearly three-week high late on Monday.
24K gold was trading at Dh622.75 per gram on Tuesday morning, down from Dh626.75 per gram on Monday evening.
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Similarly, 22K, 21K, 18K, and 14K gold prices were trending down at Dh576.5, Dh552.75, Dh473.75 and Dh369.5 per gram, respectively.
Spot gold was trading at $5,171.1 per ounce, down 0.67 per cent, weighed down by a stronger US dollar despite support from US tariff uncertainty and US-Iran tensions.
It fell to $5,150 earlier in the morning.
Rania Gule, senior market analyst at xs.com, said gold’s moves clearly reflect a strong return of safe-haven flows.
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“This rally cannot be separated from the tense geopolitical and economic environment that has led to a global repricing of risk, particularly with US President Donald Trump reverting to an escalatory tariff strategy, alongside markets closely monitoring the upcoming US–Iran talks in Geneva. We are not facing a market reacting to a single headline, but rather one reassessing an entire risk framework,” she said.
Gule added that the US Supreme Court’s decision to strike down certain tariffs did not eliminate uncertainty. “Trump quickly resorted to other legal mechanisms under the Trade Act of 1974 to impose new tariffs, raising them gradually while maintaining national security-related duties. This political approach reinforces what I call a ‘fog premium’, an added price premium investors assign to safe-haven assets when global trade rules become unstable. The $5,000 level is no longer a rigid psychological ceiling, but rather a new structural price floor under this policy trajectory,” she said.
