[Editor’s Note: Follow Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]
Gold prices in the UAE rebounded slightly today after a weekly drop.
The 24K variant was trading at Dh569.50 per gram when markets opened on Monday, after losing 19 grams last week. The 22K, 21K, 18K and 14K variants were trading at Dh527.25, Dh505.50, Dh433.25, and Dh338.00 per gram, respectively.
Spot gold slightly rose by to $4,719.89 (Dh17,335.9) per ounce on Monday morning, following a 2.5 per cent loss last week that halted a four-week winning streak. Silver was trading at $76.24 (Dh279.99).
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This comes amid continuous attempts at ceasefire talks between the US and Iran in Pakistan. US President Donald Trump cancelled trips of two of his envoys to Pakistan, while Iran’s foreign minister is on a diplomatic tour during which he visited both Pakistan and Oman.
Analysts say the recent price movement reflects broader market pressures rather than purely geopolitical triggers. As Khaleej Times reported last week, Ahmad Assiri, research strategist at Pepperstone, noted that gold’s price action is signalling that the traditional safe-haven narrative is losing traction as a geopolitical driver.
“Despite headlines continuing to reflect elevated tensions tied to the Iran conflict, there has been no material shift in the geopolitical landscape or a clear de-escalation. The yellow metal is effectively being the adult in the room, showing restraint in such an uncertain environment rather than reacting impulsively, and remaining anchored in a relatively tight range,” he said.
He added that this reflects a phase of “geopolitical fatigue”, where events that would typically trigger a flight to safety are being absorbed without strong follow-through, while a firm US dollar and elevated US Treasury yields continue to cap gold’s upside.
Source: Khaleej Times