Gold prices dipped slightly on Tuesday morning in the UAE after a surge the previous day.
The 24-karat gold variant, the most popular, was trading at Dh279.0 per gram, a decrease of Dh0.25 per gram from Monday’s opening. This follows a global trend as gold prices edged lower ahead of key data releases from the United States.
Analysts attribute the recent volatility to the stronger-than-expected US jobs report, which impacted investor expectations for interest rate cuts by the Federal Reserve.
The upcoming release of US inflation data and the Federal Reserve’s policy meeting are likely to influence gold prices further in the coming days.
