Dubai gold prices jump over Dh13 per gram after US-Iran peace deal
Gold prices climbed sharply in Dubai on Monday morning as global markets reacted to the reported peace agreement between the United States and Iran. The rise in gold prices came alongside a significant decline in oil prices following news that both countries had agreed on a framework aimed at ending hostilities, lifting the US blockade on Iran, and reopening the Strait of Hormuz.
At the opening of the Dubai market, 24K gold increased by Dh13.75 to reach Dh521.75 per gram, while 22K gold rose by Dh12.25 to Dh483.00 per gram. Other gold variants also recorded gains, reflecting strong investor interest in precious metals amid shifting geopolitical developments.
Key Highlights
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24K gold rose to Dh521.75 per gram.
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22K gold increased to Dh483.00 per gram.
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Spot gold climbed 1.24% to $4,329 per ounce.
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Silver gained 1.88% to $70.49 per ounce.
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Oil prices fell more than 4.5% following the peace agreement.
Peace Deal Boosts Gold Market Sentiment
US and Iranian officials announced on Sunday that they had agreed on a peace framework, with the final agreement expected to be signed in Switzerland on Friday. The deal is expected to end the conflict, ease restrictions on Iran, and reopen the strategic Strait of Hormuz, a vital route for global energy supplies.
The prospect of improved regional stability triggered a sharp decline in oil prices, while precious metals attracted renewed investor attention. Gold prices had faced volatility since the escalation of tensions in the Middle East earlier this year, as concerns over oil supply disruptions and inflation drove market uncertainty.
Current Gold Prices in Dubai
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24K: Dh521.75 per gram
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22K: Dh483.00 per gram
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21K: Dh463.00 per gram
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18K: Dh396.75 per gram
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14K: Dh309.50 per gram
The latest market movements highlight how geopolitical developments continue to influence both energy and precious metal markets, with investors closely monitoring upcoming developments surrounding the US-Iran agreement.
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