Gold Prices Rise Nearly Dh4 In Dubai As Oil Slips Below $100

2026-04-14 02:54:08

(MENAFN- Khaleej Times) [Editor's Note: Follow Khaleej Times live blog for the latest regional developments with the US-Israel-Iran ceasefire now in effect.]

Gold prices rose nearly Dh3.75 per gram in Dubai on Tuesday morning as a drop in oil prices eased inflation worries in the US and worldwide.

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The 24K gold price was trading at Dh573.50 per gram at the market open on Tuesday, up Dh3.75 per gram from Monday's close.

The other variants of the yellow metal saw a slight increase in prices, with 22K, 21K, 18K and 14K trading at Dh531.00, Dh509.25, Dh436.50 and Dh340.50 per gram, respectively.

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Spot gold was up 0.57 per cent at $4,770.4 per ounce. Similarly, silver rose 2.1 per cent to $77.11 (Dh283) per ounce.

Inki Cho, financial markets strategist consultant at Exness, said gold's direction will remain closely tied to developments in the Middle East and their impact on energy prices and inflation expectations.

“Further escalation could continue to weigh on the metal through higher yields, while any signs of diplomatic progress may help ease inflation concerns and support a recovery in bullion,” added Cho.

Oil prices were trending down, trading below $100 a barrel on Tuesday morning. By 9.10am UAE time, WTI and Brent were trading at $96.8 and $97.93 per barrel, down 2.3 per cent and 1.44 per cent, respectively.

US President Donald Trump announced a blockade of the Strait of Hormuz, which got underway on Monday evening, applying to all vessels heading to or from Iranian ports.

“Is this a negotiating gambit, designed to choke off Iranian oil revenues and force Iran back to the table? Almost certainly, it is, with it being just the latest instalment of the 'escalate to de-escalate' strategy that markets have become familiar with over the past 15 months or so,” said Michael Brown, senior research strategist at Pepperstone.

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