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Gold, silver prices slip; geopolitical tensions continue to support safe-haven assets
The US bank JP Morgan has raised its long-term forecast for gold prices to $4,500 an ounce while maintaining its year-end 2026 forecast at $6,300 per ounce
- PUBLISHED: Thu 26 Feb 2026, 9:31 AM UPDATED: Thu 26 Feb 2026, 9:38 AM
Gold and silver prices eased on Thursday morning in Dubai and globally.
The 24K gold price was trading at Dh625.75 per gram when markets opened on Thursday, down from Dh628.25 on Wednesday evening.
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The other variants of the yellow metal – 22K, 21K, 18K, and 14K – were trading at Dh579.25, Dh555.50, Dh476.25, and Dh371.5 per gram, respectively.
Globally, spot gold was trading at $5,198.52 per ounce, down 0.17 per cent.
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Silver was trading at Dh330.25 per ounce, down 1.2 per cent.
The global tariff row and geopolitical tensions continue to support gold and silver prices.
On Wednesday, JP Morgan raised its long-term forecast for gold prices to $4,500 an ounce and kept its 2026 year-end forecast at $6,300.
The bank is bullish on gold prices through 2026 and still sees a continued structural diversification trend into the metal, which it says has further room to run.
Tony Sage, CEO of Critical Metals, said gold advanced to a certain extent on Wednesday, recovering part of the previous session’s decline.
“Renewed demand for safe-haven assets amid rising trade and geopolitical uncertainty could continue to support the market. A new 10 per cent global tariff introduced by the US administration has come into effect this week, with indications that the rate could be lifted further. This could reignite trade frictions and unsettle global supply chains, which could drive investors to hedge with precious metals,” he said.
At the same time, markets are closely monitoring the resumption of discussions between Washington and Tehran.
“While Iranian officials have signalled willingness to advance negotiations, the path toward a definitive agreement remains full of obstacles. A breakdown in negotiations could precipitate flows into safe-haven assets like gold. In Eastern Europe, hostilities persist, and instability in Mexico adds another layer of fragility to the global landscape,” added Sage.
