On Friday morning, gold prices remained stable in both Dubai and the United Arab Emirates. According to data from Dubai Jewellery Group, at the market opening on Friday, the price of 24K gold was 526.75 dirhams per gram, and 22K was 487.25 dirhams per gram.
Among other varieties of yellow metal, 21K gold traded at 467.25 dirhams per gram, while 18K and 14K were priced at 400.5 and 312.5 dirhams per gram, respectively.
The spot weight of gold remained unchanged at $4366 per ounce, while silver rose by 0.8 percent, reaching $66.12 per ounce.
Daniel Takieddin, co-founder and CEO of Sky Links Capital Group, noted that although the Federal Reserve's decision was widely factored in by investors, Chairman Kevin Warsh's comments that inflation remains too high, and forecasts indicating at least one more hike this year, put pressure on the gold price.
He added that traders will likely monitor potential rate hikes by major central banks and any further signals from the Fed this year. He emphasized that 'hawkish' signals could raise yields and put pressure on gold, while softer messages could ease yields and help gold recover. Traders are also closely watching oil supply disruptions in the Middle East, which remain short-term risks.
Naim Aslam, Investment Director at Zaye Capital Markets, stated that the entire gold price ecosystem continues to depend on which side of the conflict strengthens.
According to him, 'political uncertainty, tariff risks, higher oil prices, and geopolitical tension can support portfolio protection demand, while weaker economic data may increase expectations that policy tightening is approaching its limit... For investors tracking gold prices, the most important indicators are real US Treasury yields, the dollar, oil prices, retail sales momentum, inflation expectations, and the future path of policy.'
