24K gold climbs to Dh504.25 in UAE as US carrier deployment rattles markets

Dubai gold prices maintained their position above the Dh500 threshold on Friday, 2 October, as geopolitical tensions in the Middle East and shifting US Treasury yields dictated market sentiment. The 24-karat gold variant was priced at Dh504.25 per gram in the UAE, rising from Dh502 recorded during the previous session. Domestic Price Breakdown Retail rates for other variants also saw marginal increases across UAE exchanges. The 22-karat gold rose to Dh467 per gram, up from Dh464 on Thursday. Meanwhile, 14-karat gold approached the Dh300 mark, reflecting a broader stabilization in the bullion market despite a volatile week for global commodities. Global spot gold traded at $4,180.20 an ounce at 2:00 PM in Dubai, a 0.1% increase. While the metal is on track to end the week approximately 2% lower, immediate safe-haven buying has propped up prices. This movement comes as US 10-year Treasury yields stepped back from a 24-year peak, easing pressure on non-yielding assets like bullion. Geopolitical and Energy Pressures External factors, specifically regional security and energy supply concerns, are currently providing a floor for prices. Oil prices climbed following reports that the US…