Gold prices in Dubai jumped by Dh4 as people got worried about the war again. This made investors want to buy things like gold.
On Thursday the price of 24K gold in Dubai went up to Dh582.50 per gram. It was Dh4.50 more than the day. The price of 22K gold also went up to Dh539.25. It was Dh4 more than on Wednesday. People are getting worried again because of the problems between the United States, Israel and Iran.
Gold prices had gone down a bit earlier in the week. People were hopeful that things would get better with diplomacy.. Now people are worried again especially about the Strait of Hormuz. This is making investors careful.
Gold prices are going up around the world. The US dollar is getting weaker. The Treasury yields are going down. When the dollar is weak gold is more attractive to investors.. When yields are low people do not mind holding gold as much.
Analysts say that the market is waiting to see what happens next. People are hoping for diplomacy. They are also worried about things getting worse. If something big happens in the region gold prices could go up or down quickly.
In the Gulf gold prices are doing different things. In Saudi Arabia prices are not changing much.. In the UAE prices are going up and down with the global market.
In India gold prices are going up because of a festival called Akshaya Tritiya. This is a time when people traditionally buy gold. The strong demand and currency factors are keeping prices high.
Experts think that gold prices will keep changing a lot. If people stop being so worried about the war prices might not go up much.. There are still a lot of risks and worries about inflation and what central banks will do. These things will keep supporting gold prices.
Unless something big happens with diplomacy or central banks gold prices will probably stay high. They will go up and down with what people think and feel about the world. Gold prices, in Dubai and the UAE will keep reacting to what happens.
