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Gold prices gain in early Dubai trade; silver prices fall
Analysts say the medium-term outlook for the precious metal remains strong amid central bank buying, which saw a 3 per cent year-on-year increase in Q1 2026
- PUBLISHED: Thu 14 May 2026, 9:32 AM
Gold prices rose slightly in Dubai on Thursday morning, with focus on the US-Iran war and President Donald Trump’s visit to China.
The 24K gold price was trading at Dh566.5 per gram at the market opening on Thursday, up from Dh563.75 per gram at the close of the markets on Wednesday.
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Among the other variants of the precious metal, the 22K gold price was up Dh2.75 per gram on Thursday morning. The prices of 21K, 18K and 14K rose to Dh503.0, Dh431.25 and Dh336.25 per gram, respectively.
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Spot gold was trading at $4,702.96 per ounce, up 0.1 per cent.
Silver was down 1.85 per cent at $86.91 per ounce.
Trump landed in China ahead of his two-day visit to Beijing, where he met Chinese President Xi Jinping. The pomp-filled summit began at Beijing's imposing Great Hall of the People, where Xi greeted Trump on the red carpet, with the leaders shaking hands and smiling warmly.
Meanwhile, US-Iran war rhetoric continues to dominate global headlines.
Linh Tran, market analyst at XS.com, said central bank demand also continues to be an important pillar of support.
The World Gold Council reported that central banks bought a net 244 tonnes of gold in Q1 2026, up 3 per cent year-on-year and above the five-year average.
“This reflects the continued trend of reserve diversification amid rising geoeconomic risks. Overall, gold is no longer reacting one-dimensionally to US CPI data. High inflation initially weighed on the precious metal due to rising yields and a stronger US dollar, but the subsequent rebound shows that gold’s safe-haven role is starting to stand out again,” she added.
“In an environment where inflation is accompanied by geopolitical tensions, high energy prices and growth risks, gold still has a strong foundation to maintain its appeal as a defensive asset. Therefore, gold’s short-term trend may continue to fluctuate, but its medium-term foundation remains supported by demand for value preservation, ETF inflows and central bank buying,” added Tran.
