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Gold prices recover, rise over Dh13 per gram in 24 hours
The precious metal prices in the UAE and globally could remain exposed to the downside if inflation concerns increase and yields and the dollar return to the upside
- PUBLISHED: Fri 12 Jun 2026, 9:31 AM
Gold prices recovered in Dubai as tension eased in the Middle East after US President Donald Trump announced canceling strikes against Iran.
In the UAE, 24K gold price was trading at Dh505 per gram on Friday morning, down Dh1.5 from last night's close, but up Dh13.25 from Thursday's market opening rate.
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Among the other variants of the precious metal, 22K, 21K, 18K and 14K were trading at Dh467.75, Dh448.5, Dh384.25, and Dh299.75 per gram, respectively.
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Spot gold was up 2.2 per cent at $4,188 per ounce on Friday morning.
Frank Walbaum, market analyst at Naga, said gold stabilised to a certain extent near multi-month lows amid slightly weaker bond yields and a steady dollar.
"However, the metal could remain exposed to the downside if inflation concerns increase and yields and the dollar return to the upside. The broader macroeconomic environment could continue to pose challenges for the metal," he said.
In the US, the latest inflation figures remained well above the Federal Reserve's target, reinforcing expectations that interest rates may need to stay elevated for longer.
"Although markets do not anticipate any monetary policy changes this month, an interest rate hike is increasingly expected later in the year," he added.
Looking ahead, Walbaum said, gold is likely to remain highly sensitive to geopolitical developments in the Middle East and inflation concerns.
"While signs of progress on the diplomatic front could support the metal through lower yields, a more pessimistic outlook could strengthen expectations of restrictive monetary policy and weigh on bullion. Nevertheless, ongoing central bank purchases are likely to continue providing an important source of long-term support and help limit downside risks," he added.
