Gold prices in Dubai experienced a modest increase at the start of the trading week on Monday, aligning with global market trends. At 9:00 AM UAE time, 24K gold opened at Dh514 per gram, marking a rise of Dh1.75 from the previous week’s closing price. Other variants, including 22K, 21K, and 18K, also saw upward movements, opening at Dh476, Dh456.5, and Dh391.25 per gram, respectively. Spot gold remained steady at $4,248.93 per ounce by 9:25 AM UAE time, though it showed signs of easing after an initial uptick. Market dynamics continue to be shaped by ongoing US-China trade negotiations and the anticipation of interest rate cuts by the US Federal Reserve. Ipek Ozkardeskaya, a senior analyst at Swissquote, highlighted the resurgence of trade tensions between the US and China, particularly following China’s restrictions on rare earth metal exports and the US’s threat of imposing 100% tariffs. Federal Reserve Chair Jerome Powell recently hinted at a potential rate cut by the end of October, with market expectations now placing a near 100% probability on a 25 basis points reduction. Investors are also awaiting the release of September’s Consumer Price Index (CPI) data by the US Bureau of Labour Statistics on Friday, which could provide further insights ahead of the Fed’s decision later this month.