Gold prices in Dubai experienced a significant decline on Tuesday, with 22K gold slipping below Dh450 per gram, marking a drop of nearly Dh5. The global spot gold price also fell by 1.5% to $4,011.8 per ounce, driven by a stronger US dollar and diminishing expectations of US interest rate cuts. In Dubai, 24K gold opened at Dh483.5 per gram, down from Dh485.75 on Monday, while 22K gold decreased to Dh447.5 per gram from Dh449.75. Other variants, including 21K and 18K, opened at Dh429.25 and Dh368.0 per gram, respectively. The decline in gold prices reflects broader market uncertainty, exacerbated by delayed US economic data releases following a government shutdown. Analysts, including Fadi Al Kurdi of FFA Kings, noted that missing economic indicators have heightened market sensitivity, with potential weaknesses in upcoming reports possibly bolstering the case for Federal Reserve rate cuts. However, cautious remarks from Fed officials, such as San Francisco Fed President Mary Daly and Minneapolis Fed President Neel Kashkari, have tempered expectations of further easing. Persistent geopolitical tensions in Eastern Europe and the Middle East continue to support gold demand, providing some stability amidst the volatility.