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Gold prices rise in Dubai amid hopes of US-Iran peace deal
Gold is currently moving within a relatively narrow sideways range, a behaviour that reflects a cautious balance between opposing forces simultaneously influencing the market
- PUBLISHED: Thu 16 Apr 2026, 9:25 AM
Gold prices rose on Thursday morning in Dubai, gaining Dh4.5 per gram, as the dollar softened amid hopes of a US-Iran peace deal.
According to Dubai Jewellery Group data, the 24K gold price opened at Dh582.5 per gram on Thursday, compared to Dh578.0 per gram at the close of the market on Wednesday.
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Among the other variants of the yellow metal, 22K, 21K, 18K and 14K were trading at Dh539.25, Dh517.0, Dh443.25 and Dh345.75 per gram, respectively.
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Spot gold was up 0.76 per cent at $4,838.15 per ounce, while silver rose 1.5 per cent to $80.66 per ounce.
Rania Gule, senior market analyst for Mena at xs.com, said gold is currently moving within a relatively narrow sideways range, a behaviour that reflects a cautious balance between opposing forces simultaneously influencing the market.
“This fluctuation is not merely a passing movement, but a clear expression of a state of ‘intelligent anticipation’ among investors who are reassessing their positions in light of profound changes in the global economic environment. Gold, which has long served as a mirror of fear, now appears to be undergoing a genuine repricing phase, where monetary policy intersects with geopolitics and capital flows,” she said.
The most influential factor at present, Gule added, is the noticeable shift in risk appetite, as investment flows increasingly move towards US equities approaching new record highs.
“This shift is drawing liquidity away from gold as a safe haven and placing it under continuous pressure, especially with the temporary easing of geopolitical tensions driven by growing optimism about progress in US-Iran relations. However, this relative relief does not signify the end of risks, but merely postpones them, which explains why gold has not collapsed despite weakening demand,” she added.
