Gold prices rose on Thursday morning in Dubai, gaining Dh4.5 per gram, as the dollar softened amid hopes of a US-Iran peace deal. According to Dubai Jewellery Group data, the 24K gold priceopened at Dh582.5 per gram on Thursday, compared to Dh578.0 per gram at the close of the market on Wednesday.
Spot gold was up 0.76 per cent at $4,838.15 per ounce, while silver rose 1.5 per cent to $80.66 per ounce.Rania Gule, senior market analyst for Mena at xs.com, said gold is currently moving within a relatively narrow sideways range, a behaviour that reflects a cautious balance between opposing forces simultaneously influencing the market.“This fluctuation is not merely a passing movement, but a clear expression of a state of ‘intelligent anticipation’ among investors.