Gold price prediction: Will it go up or down? Should you buy or wait?

Dubai: Gold prices have been bouncing back this week from an earlier dip - rising by 0.55% to around $3,338 an ounce - before dipping again Tuesday. In the UAE, 22-karat gold has dipped by nearly Dh2 to Dh369.50 from last night.

While that may not sound like much, it's still big news for anyone planning to buy gold jewellery or thinking of investing in gold, particularly given how the current backdrop is largely driving up prices. So should you make the most of this dip?

Global uncertainty is making people nervous. The US is releasing important economic data, and tensions are rising over trade talks. When markets feel shaky, investors turn to gold as a safe option.

This demand is pushing prices up. At the same time, the US dollar is weakening and interest rates may drop, which usually makes gold more attractive.

Gold did take a small dip after news that the US may ease some import tariffs. That gave people hope the trade tensions might cool down—so gold briefly dropped to about $3,305 an ounce. But experts say this might just be a short break before prices rise again.

If you’re planning to buy gold jewellery for a wedding or as a gift, now might be a smart time—before prices rise further. If you’re investing, holding on for a bit longer could bring more gains, especially if economic news in the US worsens.

So whether you're buying for beauty or as a backup plan, keep an eye on the gold market. Even small changes in global news can affect how much you pay—or gain.