emirates7 - Gold prices remained elevated in early trading on Wednesday in Dubai, with 24k gold opening above Dh405 per gram. At 9am, 24k was priced at Dh407.75 per gram, while 22k, 21k, and 18k were trading at Dh377.5, Dh362.0, and Dh310.25 per gram, respectively. Meanwhile, spot gold was down 1%, trading at $3,380.78 per ounce.
Aaron Hill, chief markets analyst at FP Markets, attributed the surge in gold prices to rising geopolitical tensions and evolving expectations around the US Federal Reserve’s monetary policy.
He advised market participants to pay close attention to the Fed’s upcoming decisions, particularly any comments from Chair Jerome Powell that might hint at the timing of potential rate cuts. Such signals could further boost gold’s momentum. Hill also highlighted that ongoing US-China trade tensions could spur risk-off sentiment, driving investors toward gold. He emphasized the importance of tracking tariff changes and how equity markets respond to them.
Hill added that the direction of the US dollar is another key factor to monitor. A continued decline in the dollar could support further gains in gold, while any recovery might weigh on prices.
The Federal Reserve is scheduled to meet today, and investors are watching for indications regarding its stance on interest rate adjustments.
Rania Gule, senior market analyst for MENA at xs.com, noted that gold prices are holding relatively steady with slight gains amid a backof increasing global economic and geopolitical uncertainty.
She explained that gold's position above $2,360 per ounce reflects a tenuous balance between safe-haven buying and pressure from broader financial markets. This stability, she said, stems from shifting expectations about US monetary policy and fast-changing global events, prompting investors to remain cautious as they await pivotal developments that could influence the market outlook.
Aaron Hill, chief markets analyst at FP Markets, attributed the surge in gold prices to rising geopolitical tensions and evolving expectations around the US Federal Reserve’s monetary policy.
He advised market participants to pay close attention to the Fed’s upcoming decisions, particularly any comments from Chair Jerome Powell that might hint at the timing of potential rate cuts. Such signals could further boost gold’s momentum. Hill also highlighted that ongoing US-China trade tensions could spur risk-off sentiment, driving investors toward gold. He emphasized the importance of tracking tariff changes and how equity markets respond to them.
Hill added that the direction of the US dollar is another key factor to monitor. A continued decline in the dollar could support further gains in gold, while any recovery might weigh on prices.
The Federal Reserve is scheduled to meet today, and investors are watching for indications regarding its stance on interest rate adjustments.
Rania Gule, senior market analyst for MENA at xs.com, noted that gold prices are holding relatively steady with slight gains amid a backof increasing global economic and geopolitical uncertainty.
She explained that gold's position above $2,360 per ounce reflects a tenuous balance between safe-haven buying and pressure from broader financial markets. This stability, she said, stems from shifting expectations about US monetary policy and fast-changing global events, prompting investors to remain cautious as they await pivotal developments that could influence the market outlook.