Business /

Dubai gold slips after two-day surge, traders watch Iran talks

Prices ease after gains while global cues keep gold near record highs

Last updated: April 09, 2026 | 09:52

Nivetha Dayanand, Assistant Business Editor

2 MIN READ

Add as a preferred source on Google

Dubai Gold

Shutterstock

Dubai: Gold prices in Dubai eased slightly on Thursday morning, giving up a small portion of the gains seen earlier this week as global markets weighed fragile geopolitical signals against shifting rate expectations.

Sign up for our daily business newsletter, Cheques & Balances.

The 24-karat rate stood at Dh569, down from Dh569.25, while 22-karat slipped to Dh526.75 from Dh527. The move reflects a pause after a short rally, with price direction still closely tied to developments around the ongoing conflict and policy signals from major central banks. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait, and India.)

Get updated faster and for FREE: Download the Gulf News app now - simply click here.

Monthly trend shows sharp swings

April began on a strong footing with 24K gold at Dh573 on April 1, before a steady decline pulled prices down to Dh561 by April 6. That early drop was followed by a rebound, with rates climbing back to Dh569 by April 8. Thursday’s marginal dip suggests the market is struggling to find a clear direction after this back-and-forth movement.

The pattern has been similar for 22K gold, which started the month at Dh530.75, fell to Dh519.50 midweek, and then recovered to Dh527 before easing slightly again.

Also Read: Gold rises in Dubai after sharp fall earlier this month

Also Read: Dubai gold dips again as global pressures cool recent rally

Also Read: Dubai gold prices rebound after sharp swings, buyers track next move

Global markets keep gold supported

Internationally, bullion hovered near $4,715 an ounce after a 1.5% gain over the previous two sessions, supported by a weaker dollar and a rebound in oil prices. Diplomatic signals from Washington pointing to direct talks with Iran offered some relief, though continued tensions in the region have kept markets cautious.

Gold has been moving alongside broader risk assets in recent weeks, with its safe-haven appeal diluted at times by investors raising liquidity to cover losses elsewhere.

Rate outlook complicates direction

The conflict has pushed energy prices higher and raised concerns over inflation, increasing the likelihood that central banks may delay rate cuts or consider further tightening. That tends to weigh on gold, which does not offer yield.

At the same time, risks to growth and employment are building, which could eventually support lower rates and lift bullion demand again. Minutes from the latest Federal Reserve meeting showed policymakers divided between these competing scenarios.

Short-term price movements remain sensitive to headlines around the conflict and policy signals from the US Federal Reserve. The recent pullback from early April highs offers a slightly better entry point, though volatility is likely to persist in the coming days.

- With inputs from Bloomberg.

Nivetha DayanandAssistant Business Editor

Nivetha Dayanand is Assistant Business Editor at Gulf News, covering aviation, financial markets and commodities. A business and financial journalist with a strong interest in multimedia storytelling, she regularly takes complex financial and economic subjects beyond the written word, producing explainer videos that make them easier for a wider audience to understand. Nivetha has interviewed senior policymakers, business leaders and global financial figures both on and off camera. Her past guests include UAE Minister of Economy and Tourism Abdulla bin Touq Al Marri, Khaled bin Alwaleed Al Saud, a member of the House of Saud and the founder and CEO of KBW Ventures, Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund and Indian ministers Hardeep Singh Puri and N. Chandrababu Naidu. She has also hosted and moderated panels, conferences and awards shows, bringing her newsroom experience to live conversations on business, finance and the economy. An Erasmus Mundus journalism alum, Nivetha is drawn to stories that affect people directly and to reporting that gives a platform to voices that might otherwise go unheard. She was among the first journalists to speak to Petrofac employees in the UAE about unpaid salaries, broke the news of the planned demolition of Dubai’s well-known “Toyota Building”, and helped set the record straight on widely circulated claims that a giant replica of the Moon was coming to Dubai. More recently, her exclusive interview with EDGE Group CEO Hamad Al Marar revealed how the UAE-based defence group deployed its systems along the country’s shore border and established a geofence around the UAE within 48 hours of the February 28 escalation. Prior to joining Gulf News, Nivetha worked at ITP Media, where she helped launch Finance Middle East, a new publication covering the region’s financial sector. Her role spanned reporting and editing, video production, interviews and events. Across print, digital, and video, she focuses on finding the people behind business stories and explaining why those stories matter to the audience reading or watching them.

Get Updates on Topics You Choose

Up Next