Why gold prices in the UAE will surge this week. Global tensions, US tariff deadline fuel safe-haven demand

Dubai: Gold prices in the UAE have stayed strong above Dh370 per gram, hovering near $3,336 an ounce — and recent trends suggest the yellow metal could see more gains in the coming weeks. (Check latest UAE gold prices here, alongside prices in Saudi Arabia, Oman, Qatar, Bahrain, Kuwait.)

The global backdrop is shaping this outlook. After an initial dip following the Israel-Iran ceasefire, gold prices bounced back quickly, signaling continued safe-haven demand among investors.

The coming July 9 deadline for the US to finalize trade tariff deals is adding to market uncertainty. Any delays or failure to reach agreements could trigger higher tariffs and push gold prices even higher.

US President Donald Trump has warned that countries missing the tariff deal deadline could face tariffs ranging from 10% up to 70%, causing investors to hedge their risks with gold. The dollar’s recent weakening has also lent support to bullion prices.

In India, gold prices rose sharply this week amid tariff deal concerns and a softer dollar. Analysts forecast that gold could push towards the psychologically important Rs100,000 per 10 grams mark (roughly Dh385+ per gram), driven by tight supply and steady investment demand.

Back in the UAE, traders will await a $3,250 price-level — seen as a good buying opportunity if prices dip. However, with bullion currently holding steady above Dh370 a gram, many investors remain cautiously optimistic.

What do the current price levels mean for UAE shoppers and investors?

The latest price spike means gold remains an attractive hedge amid a world of uncertainty — and prices could see a steady climb if trade tensions flare or global risks intensify.