Dubai Gold Prices Hold at Dh547.5 Amid Iran Conflict Fears

Dubai retail gold prices remained unchanged at Dh547.5 on Thursday, holding steady even as international spot rates experienced a marginal decline. The local price stability comes amid heightened geopolitical uncertainty in the Middle East, specifically regarding potential escalations involving Iran, which has historically driven investors toward safe-haven assets. Geopolitical Tensions Drive Market Sentiment Global gold prices fluctuated during early trading sessions as market participants weighed the risks of regional conflict against a strengthening US dollar. While international bullion rates saw a slight dip, the Dubai market maintained its opening position, reflecting a cautious approach by local traders and wholesalers. Analysts suggest that the "fear premium" associated with Middle East tensions is currently offsetting the downward pressure typically exerted by high interest rates. The Dh547.5 price point serves as a critical benchmark for the local jewelry sector. In Dubai, retail rates are updated multiple times daily based on international spot movements, yet the current holding pattern indicates a temporary equilibrium between global supply-demand dynamics and…