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Gold prices inch higher in Dubai in early trade as investors look for direction
Gold’s short-term performance remains fragile as the Middle East military conflict involving the US, Israel and Iran drags on and investors look for direction
- PUBLISHED: Mon 30 Mar 2026, 9:25 AM
[Editor's Note: Follow Khaleej Times live blog amid US-Israel-Iran war for the latest regional developments.]
Gold prices inched higher in Dubai on Monday morning as hopes dimmed for interest rate cuts by the US Federal Reserve.
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The 24K gold price rose to Dh542.0 per gram at the market open on Monday, up from Dh541.25 per gram over the weekend.
Among other variants of the precious metal, 22K, 21K, 18K and 14K rose to Dh501.75, Dh481.25, Dh412.50 and Dh321.75 per gram, respectively.
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Spot gold was steady at $4,500.16 per ounce, up 0.14 per cent. Silver gained 0.66 per cent to $70.23 per ounce.
Simon Massabni, head of business development at xs.com, said the gold market is highly sensitive to geopolitical factors, particularly the conflict involving the US, Israel and Iran, which continues to generate episodes of elevated volatility.
“The rally in the precious metal comes amid persistent uncertainty, despite the US extending the deadline for potential military action by 10 days, setting April 6 as the new deadline. The lack of concrete progress in negotiations keeps investors in a defensive stance, supporting demand for safe-haven assets,” he said.
From a macroeconomic perspective, gold is finding some support amid a modest pullback in the US dollar.
“Despite the recent rebound, gold’s short-term performance remains fragile,” he added.
