Gold prices in Dubai experienced a modest uptick on Friday morning, with 24K gold rising to Dh482.75 per gram, up from Dh479 the previous day. Similarly, 22K, 21K, and 18K gold prices stood at Dh447, Dh428.50, and Dh367.50 per gram, respectively. Globally, spot gold prices reached $4,010 per ounce, while silver saw a slight increase to $49.12. Analysts remain optimistic about gold’s prospects, describing the market as ‘bullish’ despite recent corrections. Joseph Dahrieh, Managing Principal at Tickmill, highlighted that central bank demand for gold remained robust, with net buying reaching 220 tonnes in Q3 2025 and 634 tonnes year-to-date. This persistent demand is driven by central banks diversifying away from the US dollar. The World Gold Council reported that total gold demand, including over-the-counter transactions, hit a record 1,313 tonnes valued at $146 billion in Q3. Dahrieh noted that the Federal Reserve’s recent interest rate cuts and ongoing geopolitical tensions could further support gold prices. However, he cautioned that trade tensions might influence the metal’s performance. The US Federal Reserve announced its second consecutive quarter-point rate cut on Wednesday, adding to the favorable macroeconomic backdrop for gold.