Time To Buy? Gold Prices Plunge Nearly Dh9 Per Gram

2026-05-15 04:15:59

(MENAFN- Khaleej Times) Gold prices plunged in Dubai on Friday morning, losing nearly Dh9 per gram in early trade.

Data from the Dubai Jewellery Group showed that the 24K gold price was trading at Dh555.0 per gram at the market opening in Dubai on Friday, down from Dh563.75, a decline of Dh8.75.

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Among the other variants, 22K, 21K, 18K and 14K gold prices were trading lower at Dh513.75, Dh492.75, Dh422 and Dh329.5 per gram, respectively.

Spot gold was down 1.57 per cent at $4,603.92 per ounce, driven lower by inflation fears in the US economy. Silver lost 4.5 per cent to $80.9 an ounce.

Investors were also focusing on the meeting between US President Donald Trump and Chinese President Xi Jinping for further direction, especially regarding the Iran war.

Tony Sage, CEO of Critical Metals, said investors were monitoring high-level talks between the US and Chinese presidents for signals on the geopolitical outlook.

“While discussions between the two leaders appeared constructive on trade, tensions surrounding Taiwan remained. At the same time, the precious metal continued to face pressure from elevated global bond yields and persistent inflation concerns. US Treasury yields remained near their highest levels in several months after producer price data showed the strongest monthly increase since early 2022,” he added.

Looking ahead, Sage said gold's direction will likely remain tied to developments in geopolitics, energy markets, inflation expectations and central bank rhetoric.

“While ongoing central bank purchases continue to provide structural support, elevated yields may continue to limit upside momentum in the near term,” he concluded.

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