Dubai gold prices were poised to finish the week lower, with 24-karat gold falling Dh40 over 28 days to Dh514.25 per gram on Friday. Market pressure stemmed from elevated energy costs and inflation concerns that drove bond yields higher and fuelled expectations of a Federal Reserve rate hike. Saxo Bank analysts highlighted that sustained demand from China has helped prevent deeper sell-offs in global bullion.
Dubai gold prices were on track to finish the week lower as elevated energy prices and inflation concerns fuelled expectations of another US Federal Reserve rate hike. In the UAE, 24-karat gold held at Dh514.25 per gram on Friday, representing a Dh40 drop over the past 28 days. Analysts noted that resilient Chinese demand and safe-haven buying continue to provide underlying support for the metal.
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