(MENAFN- Khaleej Times)

After recent corrections, gold has begun slowly climbing again, while analysts described the yellow metal's prospect as“bullish”.

Globally, spot prices stood at $4010 per ounce at 10:00 am UAE time, while silver climbed slightly to $49.12.

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In Dubai, the price of 24K rose slightly to stand at Dh482.75 on Friday morning, as opposed to Dh479 on Thursday morning. Similarly, 22K, 21K and 18K stood to Dh447, Dh428.50, and Dh367.50 per gram, respectively.

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“Gold's outlook could remain bullish even with the recent correction,” said Joseph Dahrieh, Managing Principal at Tickmill.“Central-bank demand remained strong as net buying stayed strong into Q3 of 2025 with close to 220t in the quarter and 634t YTD, keeping a persistent demand as central banks diversify away from the dollar.”

His comments came as the latest data from World Gold Council showed that total demand, including over-the-counter transactions, reached 1,313 tonnes valued at $146 billion - the highest quarterly total on record ever.

"The macro backdrop could remain supportive over the medium term as the Federal Reserve cuts interest rates,” continued Joseph.“That appetite is also visible in flows: global gold ETFs saw record quarterly inflows in Q3, pushing AUM to new highs and reinforcing price momentum, although ETFs saw strong outflows recently. With geopolitical tensions still elevated, the balance of risks could favor gold. However, the metal could react to the developments in trade tensions.”

It was on Wednesday that the US Federal Reserve announced its second straight quarter-point interest rate cut.

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