Dubai: Gold prices in Dubai eased on Tuesday morning, retreating from Monday’s gains as global bullion markets turned cautious. At 8:15 a.m., 24-karat gold was priced at Dh606.75 per gram, down from Dh610.50, while 22-karat gold slipped to Dh562 from Dh565.25.
Dubai: Gold Prices Ease After Recent Rally Amid Volatile Markets
Gold prices in Dubai softened on Tuesday morning, giving back part of Monday’s gains as global bullion markets turned cautious. At 8:15 a.m., 24-karat gold was priced at Dh606.75 per gram, down from Dh610.50, while 22-karat gold slipped to Dh562 from Dh565.25.
The pullback mirrors softer global prices after investors booked profits in a market that remains volatile following January’s sharp swings. While bullion has retreated from recent highs, sentiment continues to be sensitive to upcoming US economic data and signals on interest rate policy.
Sharp Swings Through January and Early February
Local price movements over the past month underscore the market’s turbulence. Gold opened January near Dh555 per gram for 24-karat before climbing steadily, reaching Dh639.25 by January 28—one of the strongest rallies in recent years. That surge was followed by a sharp correction, with rates falling back below Dh600 in early February.
Dubai: Gold Prices Ebb Amid Ongoing Volatility
Gold prices in Dubai eased on Tuesday morning, giving back part of Monday’s gains as global bullion markets turned cautious. At 8:15 a.m., 24-karat gold was priced at Dh606.75 per gram, down from Dh610.50, while 22-karat gold slipped to Dh562 from Dh565.25.
The pullback mirrors softer global prices after investors booked profits in a market that remains volatile following January’s sharp swings. Sentiment continues to be sensitive to upcoming US economic data and interest rate signals.
Choppy February Trading
February trading has remained unpredictable. Prices dipped to Dh564.25 on February 2, rebounded toward Dh610 by February 9, and then eased again on Tuesday. The pattern reflects rapid shifts in global sentiment, with buyers stepping in on dips but struggling to sustain momentum at higher levels.
Gold Retreats After Two-Day Gain
Globally, gold fell after a two-day advance, as investors trimmed positions in a market still seeking direction after January’s historic selloff. Spot gold dropped as much as 1.4% before paring losses to trade slightly above $5,000 an ounce. Prices remain about 10% below the all-time peak reached on January 29, though they are still firmly higher for the year.
Dubai: Gold Prices Ebb Amid Volatility, Long-Term Drivers Remain Intact
Gold prices in Dubai eased on Tuesday morning, giving back part of Monday’s gains as global bullion markets turned cautious. At 8:15 a.m., 24-karat gold was priced at Dh606.75 per gram, down from Dh610.50, while 22-karat gold slipped to Dh562 from Dh565.25.
The pullback follows softer global prices after investors booked profits in a market still unsettled by January’s sharp swings. February trading has been choppy, with prices dipping to Dh564.25 on February 2, rebounding toward Dh610 by February 9, and easing again on Tuesday. The pattern reflects rapid shifts in sentiment, with buyers stepping in on dips but struggling to sustain momentum at higher levels.
Global Market Context
Globally, gold fell after a two-day advance, with spot prices dropping as much as 1.4% before paring losses to trade slightly above $5,000 an ounce. Prices are about 10% below the all-time peak reached on January 29, though they remain firmly higher for the year. Precious metals had plunged late last month after a speculative surge pushed markets into overheated territory.
Despite recent volatility, many longer-term drivers remain intact. Heightened geopolitical risks, sustained central bank purchases, and investor caution toward sovereign bonds and currencies continue to support bullion demand. Major financial institutions, including Deutsche Bank AG and Goldman Sachs, have indicated that gold is likely to recover over time. Official sector demand remains resilient, with the People’s Bank of China extending gold purchases for a 15th consecutive month in January.
US Data and Federal Reserve Outlook
Attention is now turning to US economic data due later this week for clues on the Federal Reserve’s policy path. Markets are assessing expectations following President Donald Trump’s nomination of Kevin Warsh as the next Fed chair. The January jobs report is expected to indicate stabilisation in the labour market, while inflation data due Friday could influence rate expectations and shape market sentiment toward gold.
Spot Metals Slip in Asia
In Asian trading, spot gold was last down 0.7% at $5,024.74 an ounce in Singapore. Silver fell 2.4% to $81.43, while platinum and palladium also traded lower, reflecting continued caution among investors amid market volatility
