UAE gold prices jump again, 24K gains Dh10 in three days - Gulf News

AI desk brief

UAE retail gold prices extended their early-September climb, with 24K rising to Dh532/gram on Sept. 3 from Dh522 at the start of the month, a Dh10/gram gain in three sessions. 22K moved to Dh492.50, while 21K and 18K also firmed, reflecting the rebound in international bullion after spot gold recovered from around $4,285/oz to above $4,400/oz.

The article ties the bounce to lower U.S. yields and a softer dollar: the 10-year Treasury yield has eased back to around 4.78% after nearing 5%, while the dollar index slipped toward 99.1-99.2. A Reuters-style analyst quote from Linh Tran of XS.com says the move reflects dip-buying, easing yield pressure and hedging against geopolitical uncertainty. ADP private payrolls rose only 38,000 in August versus 48,000 expected, adding to the case for softer labor data ahead of nonfarm payrolls.

Near term, gold looks tactically supported as traders watch U.S. jobs and inflation prints, alongside the Fed’s next policy signals. The piece notes markets are still pricing about a 62% probability of another 25bp hike in September, and inflation remains above target with headline/core PCE at 3.7%/3.3% YoY. That keeps two-way risk in play, but the immediate setup is constructive for bullion if yields and the dollar continue to retreat.