Gold and silver prices in Dubai experienced a decline on Monday morning, reflecting ongoing market volatility driven by a mix of technical and fundamental factors. Globally, spot gold prices dropped by 0.83% to $4,079.38 per ounce, while silver fell by 0.53% to $48.34 at 10 am UAE time. In Dubai, 24K gold was priced at Dh491.50, with 22K, 21K, and 18K gold also slipping to Dh455, Dh436.25, and Dh374 per gram, respectively. This downturn follows a record high of Dh525.25 on October 21, which was followed by the sharpest one-day decline in over a decade, retreating more than six per cent. Dilin Wu, Research Strategist at Pepperstone, noted that the market had seen nine consecutive weeks of bullish activity, with the Relative Strength Index (RSI) in overbought territory since early September, signaling the need for a corrective pullback. Nishin Thaslim, Chairman of Nishka Jewelry, attributed the decline to global optimism stemming from the nearing end of the US-China trade war, which has reduced safe-haven demand for gold. Additionally, the CME’s 5.2% increase in margin requirements for gold and silver has dampened short-term buying momentum. Looking ahead, gold is expected to trade within a neutral to slightly bearish range, influenced by risk sentiment and key economic developments, including the outcome of the US-China leaders’ meeting at APEC and the Federal Reserve’s policy decisions.