Dubai: Gold Prices Slip 22K Trades Above Dh308 Per Gram
Date
1/23/2025 4:32:00 AM
(MENAFN- Khaleej Times)
Gold prices slipped from nearly an all-time high in Dubai on Thursday morning. At 9am, the 24K variant of the yellow metal slipped Dh0.75 per gram to Dh333.25, while 22K fell to Dh308.5 per gram on Thursday morning, down from last night's close of Dh309.25 per gram.
Among the other variants, 21K and 18K fell to Dh298.75 and Dh256.0 per gram, respectively. Spot Gold was trading at $2,752.06 per ounce, down 0.24 per cent due to a stronger dollar and concerns about US President Donald Trump's policy.
Ahmad Assiri, research strategist at Pepperstone, said gold prices reflect an environment increasingly influenced by heightened political and trade uncertainties.
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“With Donald Trump inaugurated as the 47th US president, market focus has turned to his potential tariff strategies, including the much-debated universal tariff of 10–20 per cent. If enacted, such policies could disrupt current global trade flows and amplify economic volatility, reinforcing gold's role as a safe asset. Anticipation of a rapid-fire rollout of executive orders further adds to market jitters, as investors brace for immediate policy shifts with economic implications,” he said.
Assiri added that recent US inflationary pressure highlights gold's strategic appeal.
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Historically, gold has served as a reliable hedge against inflation and political uncertainty.
“The risk for gold seems to be skewed to the upside. Political tensions and trade uncertainties create fertile ground for volatility. Investors will closely monitor Trump's early executive actions, which are expected to set the tone for broader market dynamics and gold's trajectory in the weeks ahead,” he said.
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