Dubai: Gold prices in Dubai are steady today. This is because investors are keeping an eye on possible ceasefire talks in the Middle East. There were changes in global markets recently.
Now 24-karat gold costs Dh544.50 per gram. 22K gold costs Dh504.25 per gram. Other types of gold are also stable. 21K gold is Dh483.50 per gram. 18K gold costs Dh414.50 per gram. 14K gold is Dh323.25 per gram.
Globally gold prices are a bit lower. Spot gold is $2,315.68 per ounce. That’s down 0.88 percent. Silver prices are also down. They fell 1.34 percent to $23.64 per ounce.
Ceasefire talks are important
Investors are watching reports that the United States is talking to Iran. They want to calm down the conflict. The US has some conditions to end the fighting. They are also talking to countries in the area.
There’s no agreement yet.. There have been no attacks for a few days. This helped calm things down. Oil prices are a bit lower. Gold prices got some support after a decline.
Gold prices go up a bit
Gold recently stopped falling for nine days. This was because people think talking might help.. Experts say it’s still uncertain. The Strait of Hormuz is still a deal.
Mixed signals in the market
Experts say gold is being pulled in directions. Usually when there’s conflict people buy gold.. People are also worried, about interest rates and inflation.
Some central banks are selling gold to help their currencies. Gold funds are also seeing money. This shows that investors are being careful.
What’s next
The ceasefire talks helped calm things down for now.. Experts say things can change quickly. If the talks go well gold prices might stay steady.. If things get worse people will buy gold again.
In Dubai the gold market is steady.. It’s waiting to see what happens next. Gold is a safe-haven asset. People buy it when they’re worried.
