Gold prices recover in Dubai early trade, gain over Dh7 per gram

11/03/2026 04:09 AST

Gold prices recovered in Dubai on Tuesday morning, rising over Dh7 per gram in early trade.

According to Dubai Jewellery Group data, 24K gold price was trading at Dh623.0 per gram on Tuesday morning, up from Dh615.75 per gram at the close of the markets on Monday. It fell nearly Dh10 per gram when markets opened on Monday morning.

Among the other variants of the precious metal, 22K, 21K, 18K, and 14K were trading at Dh576.75, Dh553.0, Dh474.0 and Dh369.75 per gram, respectively.

Spot gold was trading higher at $5,170.5 per ounce, up 1.47 per cent, due to a weaker dollar and easing US inflation concerns. Silver was trading over five per cent higher at $88.62 per ounce.

Tony Sage, CEO of Critical Metals, said disruptions in the Middle East pushed crude oil prices above $100 per barrel for the first time since 2022, reigniting fears of renewed global inflation pressures.

"Rising energy costs affected the monetary policy outlook and reduced the expectations of near-term rate cuts from the Federal Reserve, leading to higher yields. The latter could continue to weigh on gold, limiting its upside potential," he said.

However, Sage added that geopolitical tensions continue to provide structural support.

"Ongoing tensions in Eastern Europe and the Middle East maintain elevated risk premium. Institutional demand also remains resilient, as evidenced by continued ETF inflows and ongoing central bank purchases," he said.

Looking ahead, Sage sees that markets will closely monitor US inflation data later this week, including CPI and PCE releases.

"These indicators could prove decisive in shaping expectations for monetary policy and gold's near-term trajectory," he concluded.

Khaleej Times