Gold prices in Dubai went down a little on Wednesday. This happened because people were not as worried about war as they were before. Donald Trump said something that made people think that the fighting with Iran might be ending soon.
In Dubai the price of 24K gold went down to Dh581.50 per gram. The day before it was Dh582.00. The price of 22K gold also went down to Dh538.50 from Dh539.00. This is not a drop but it is different from the day before when people were buying more gold because they were worried about the fighting.
The reason people are not as worried is that Donald Trump said that he might talk to Iran soon. This makes people think that things might get better. When this happened people started selling their gold because they did not think it was as safe to keep their money in gold.
Earlier in the week people were worried about the Strait of Hormuz. This is an important place where oil is transported. But now that things seem to be getting better people are not as worried.
In places the price of gold is doing different things. In Dubai it went down a little. In Saudi Arabia it stayed the same. People there are being careful. Waiting to see what happens next. In India the price of gold went up a lot. This is because people are buying gold for a festival and also because of some problems with money.
Around the world the price of gold went down a little. The dollar got stronger. People started putting their money in other things like stocks. This is because people are feeling more optimistic that the fighting might not get worse.
The price of oil also went down. The stock market went up. This shows that people are feeling more hopeful that things will get better.
Even though the price of gold went down a little it is still up, for the week. Analysts say that people are starting to take risks again. What happens next will depend on what Donald Trump and Iran do. If things get worse again the price of gold might go up again.
