On Monday, gold prices in Dubai reached an all-time high, pushing the precious metal above $3,800 per ounce internationally as the week began. 24K surged to a record high of Dh458.25 per gram in the United Arab Emirates, while 22K hit Dh424.25 per gram. Dh407 and Dh348.75 per gram were the prices of the other varieties, 21K and 18K, respectively.
Due to geopolitical concerns, global uncertainty, and US interest rate decreases, gold prices have been rising. Should this uncertainty persist, gold prices would rise significantly, and 24K might reach Dh500 per gram. Because gold is so resilient, investors are optimistic about the future and anticipate that the price of precious metal will reach $4,000 per ounce in 2026.
Spot gold was up 1.5% at midday on Monday, trading at $3,810.53 an ounce. The price of an ounce was $3,819 earlier in the day. Gold rose above $3,800 to a new record high, according to Dilin Wu, research strategist at Pepperstone, as exchange-traded fund (ETF) inflows support ongoing advances and safe-haven demand is driven by global tensions, US Federal Reserve rate drop predictions, and the possibility of a US government shutdown.
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