Advertisement

Gold hits pause near records. Should buyers wait?

Advertisement

Gold prices in Dubai remained stable on Wednesday, hovering near recent highs after a strong start to the year. At 9:10 a.m. local time, 24-karat gold was trading at Dh537.75 per gram, while 22-karat gold stood at Dh498, keeping both close to last week’s peak levels.

The market has been active in early January, with 24-karat gold starting the month at Dh520.25 and rising steadily to Dh538.50 by January 6. Buyers are now seeing a market locked in a narrow range, with daily movements largely influenced by international trends.

Globally, gold also paused after three days of gains, stabilising near $4,490 per ounce. Traders are focusing on upcoming US economic data, including Friday’s December jobs report, to gauge the Federal Reserve’s next moves. Recent indicators, such as a weaker manufacturing survey, have fueled expectations that the Fed may continue its easing cycle after three rate cuts last year.

Meanwhile, geopolitical events continue to underpin safe-haven demand. Developments in Venezuela, tensions between China and Japan, and statements regarding Greenland have all kept investors attentive to potential risks.

Despite short-term fluctuations, gold’s long-term fundamentals remain strong. Central bank purchases and ETF inflows contributed to record highs in 2026, with the metal delivering its best annual performance since 1979. Silver also posted remarkable gains, driven by supply constraints and high retail demand, especially in Asia.

Analysts note that gold’s current consolidation does not signal weakness. According to Linh Tran, market analyst at XS.com, “Gold remains in a broader uptrend, supported by both macroeconomic and geopolitical factors. US data shows slowing growth without deep economic contraction, providing a foundation for continued demand.”

Strategic accumulation by central banks has reinforced the market’s strength. Around 45 tonnes were purchased in November alone, bringing year-to-date acquisitions close to 300 tonnes. This reflects a long-term approach to diversify reserves and reduce reliance on fiat currencies amid global financial uncertainties.

Looking ahead, US economic data will likely dictate short-term movements. Strong employment and growth figures could limit rate-cut expectations and weigh on prices, while weaker results may boost safe-haven demand and push gold back toward $4,550 per ounce. Geopolitical developments, oil benchmarks, and the US dollar will also remain influential throughout the week.

Investors in Dubai are watching closely, balancing local and global factors as gold maintains its position near record highs. The market shows a mix of cautious consolidation and sustained upward momentum, highlighting both opportunity and the need for strategic timing.

Advertisement

Top Stories
Crypto Prices Today: Bitcoin Dips to $112,000, Ethereum Trades Around $4,700
Crypto Prices Today: Bitcoin Dips to $112,000, Ethereum Trades Around $4,700
Cryptocurrency markets see modest decline as Bitcoin and Ethereum trade on Monday. At the time of writing, the total crypto market cap saw a marginal decline of 2.59 per cent to $3.88 trillion, while the 24-hour trading volume increased by 58.20 per cent to $134.52 billion.Ethereum ETH was the most trending cryptocurrency. Its price was down by 1.50 per cent to $4,712.10 million, and its 24-hour trading volume was $28.76 billion. Elsewhere VeChain VET was the top gainer. It was up by 4.39 per ce
# Finance
# Finance
Amazon Stock Dips: Is Now the Time for Long-Term Investors to Jump In?
Amazon Stock Dips: Is Now the Time for Long-Term Investors to Jump In?
Amazon is no longer just an e-commerce giant. Over the years, it has expanded into cloud computing with Amazon Web Services (AWS), digital advertising, streaming services, audiobooks, music, pharmacy, and grocery retail through Whole Foods, transforming into a diversified tech powerhouse.For a long time, Amazon shares were seen as essential but often too expensive for many investors. With recent market movements, however, the question arises: has Amazon finally reached a price point that makes i
# Finance
# Finance
Top sectors UAE NRIs can invest in now
Top sectors UAE NRIs can invest in now
As India’s economy powers ahead across diverse sectors, UAE-based non-resident Indians (NRIs) are finding a wider range of attractive opportunities to invest back home. Eased regulations, strong sectoral expansion, and digital access channels are opening new doors for overseas investors aiming to secure long-term returns.
# Finance
# Finance
UAE Cardholders Alert: How to Outsmart the New 3.14% Overseas Transaction Fee
UAE Cardholders Alert: How to Outsmart the New 3.14% Overseas Transaction Fee
Travelling abroad is set to become a little more expensive for UAE cardholders starting September 22, 2026. If you use your UAE-issued credit or debit card internationally—whether it’s in a Paris boutique, a Singapore ATM, or an American online store—you’ll now face a higher fee of 3.14% on each transaction.While that may not seem significant at first glance, it adds up quickly. A Dh5,000 overseas spend could now cost you an extra Dh157 just in fees—an expense many travellers don’t factor into t
# Finance
# Finance
Want Safe Dividend Income in 2026 and Beyond? Invest in the Following 5 Ultra-High-Yield Stocks
Want Safe Dividend Income in 2026 and Beyond? Invest in the Following 5 Ultra-High-Yield Stocks
These companies provide sustainable income streams to their investors.High-yielding dividend stocks often face skepticism. While a robust dividend yield can signal a greater risk of a future payout cut, this isn't always true. Several higher-yielding dividend stocks deliver consistent, reliable income to investors.Here are five high-quality companies with ultra-high-yielding payouts to buy for safe dividend income in 2026 and beyond.1. Clearway EnergyClearway Energy (CWEN 1.21%) (CWEN.A 1.14%) o
# Finance
# Finance
First-Time Credit Card? 6 Smart Tips to Maximise Its Benefits
First-Time Credit Card? 6 Smart Tips to Maximise Its Benefits
Getting your first credit card is an exciting step toward financial independence. Beyond convenience, it gives you the chance to build your credit history, which is crucial for future loans, mortgages, and other borrowing. Using your card responsibly from the start can set you up for long-term financial success. Here are six essential tips for first-time credit card users.1. Keep Your Spending Under ControlAvoid spending more than you can comfortably repay. Experts recommend using no more than 3
# Finance
# Finance
Gold Prices Soar in UAE: Residents Reap Rewards from One-Year Surge
Gold Prices Soar in UAE: Residents Reap Rewards from One-Year Surge
Gold has proven to be a golden investment for UAE residents, as prices have skyrocketed by nearly Dh100 per gram in the past year. Many buyers now say their jewellery purchases in 2024 turned out to be among the smartest financial decisions they’ve made.In the summer of 2024, 22K gold was priced between Dh279 and Dh290 per gram. Fast forward to this week, and the price has crossed the Dh380 mark, reflecting a significant increase that’s captured the attention of both investors and everyday buyer
# Finance
# Finance
UAE Residents Celebrate Soaring Gold Prices as Smart Jewellery Investments Shine
UAE Residents Celebrate Soaring Gold Prices as Smart Jewellery Investments Shine
Over the past year, gold prices in the UAE have surged by nearly Dh100 per gram — turning everyday jewellery purchases into unexpectedly high-yielding investments for many residents.Last summer, the price of 22K gold hovered between Dh279 and Dh290 per gram. Today, that same gold is priced at over Dh380 per gram, reflecting a remarkable climb that has surprised even seasoned buyers.Global trends support this local surge. According to data from the World Gold Council, prices have been on a consis
# Finance
# Finance
Comment