The global backdrop is shaping this outlook. After an initial dip following the Israel-Iran ceasefire, gold prices bounced back quickly, signaling continued safe-haven demand among investors.
The coming July 9 deadline for the US to finalize trade tariff deals is adding to market uncertainty. Any delays or failure to reach agreements could trigger higher tariffs and push gold prices even higher.
Why will gold prices rise further?
US President Donald Trump has warned that countries missing the tariff deal deadline could face tariffs ranging from 10% up to 70%, causing investors to hedge their risks with gold. The dollar’s recent weakening has also lent support to bullion prices.
In India, gold prices rose sharply this week amid tariff deal concerns and a softer dollar. Analysts forecast that gold could push towards the psychologically important Rs100,000 per 10 grams mark (roughly Dh385+ per gram), driven by tight supply and steady investment demand.
Back in the UAE, traders will await a $3,250 price-level — seen as a good buying opportunity if prices dip. However, with bullion currently holding steady above Dh370 a gram, many investors remain cautiously optimistic.
Justin is a personal finance author and seasoned business journalist with over a decade of experience. He makes it his mission to break down complex financial topics and make them clear, relatable, and relevant—helping everyday readers navigate today’s economy with confidence.
Before returning to his Middle Eastern roots, where he was born and raised, Justin worked as a Business Correspondent at Reuters, reporting on equities and economic trends across both the Middle East and Asia-Pacific regions.
