Dubai: Gold prices stable as Iran-Israel war keeps precious metal high
The 24K variant of the precious metal was trading at Dh409 per gram, slightly up from last night's close.
Meanwhile, 22K, 21K and 18K were selling at Dh378.75, Dh363.25 and Dh311.25 per gram, respectively. Spot gold was trading at $3,394.53 per ounce, up 0.16 per cent.
Wael Makarem, financial markets strategist lead at Exness, said gold prices held steady as investors weighed geopolitical developments against monetary policy expectations.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
'The yellow metal could remain supported by ongoing tensions in the Middle East and continued investor inflows into gold-backed ETFs, which saw a net addition of 21.7 tonnes in the week ending June 13, the highest weekly inflow since early April and the fourth consecutive week of positive flows,' he said.s
' Geopolitical risks remain elevated. In the Middle East, Israel intensified its strikes on Iranian infrastructure. Meanwhile, in Eastern Europe, the ongoing conflict between Russia and Ukraine continues to weigh on investor sentiment, supporting demand for safe-haven assets such as bullion.'
He added that the attention now turns to the US Federal Reserve's policy decision on Wednesday.
'While the Fed is widely expected to keep rates unchanged, markets are focused on the projections and press conference for any signals regarding the timing and scope of potential rate cuts later this year. Dovish remarks could increase the appeal of non-yielding assets, while a more cautious tone could lift US Treasury yields and weigh on gold prices. Investors also await key US macro data, including retail sales and industrial production, for further insight into the strength of the economy,' said Makarem.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Tahawul Tech
an hour ago
- Tahawul Tech
AD Gaming Archives
'Blocking states from regulating AI without a national standard in place would hand another victory to greedy big tech companies who put profits over people'. Learn more about this developing story below. #USSentate #AIRegulation #tahawultech
Tahawul Tech
an hour ago
- Tahawul Tech
MBZUAI's MAILIS, AD Gaming to spotlight AI's role in future of game development
Abu Dhabi — Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) hosted the second session of its flagship community engagement platform, MAILIS, in partnership with Abu Dhabi Gaming. The session entitled 'AI Joins the Game' explored the growing impact of artificial intelligence across the gaming industry, from gameplay and innovation to storytelling and career pathways. As part of MBZUAI's Year of Community outreach initiative, MAILIS brings together students, researchers, and industry leaders to exchange ideas and inspire the UAE's future AI leaders. This latest session featured: Rawdha Almeraikhi, Director of Outreach, MBZUAI; Hamdan Al Ali, Ph.D. Candidate in Natural Language Processing, MBZUAI; Boris Kalmykov, Co-founder and CEO of Hypemasters and former executive at Meta and Unity; Marcos Muller-Habig, Abu Dhabi Gaming Sector Enablement Director; and Ariana Bermudez, Project Manager, MBZUAI. Participants shared their observations and experiences on how AI is transforming creativity in the rapidly evolving games industry, and highlighted opportunities for local talent to contribute to global innovation and creation. The session was hosted in collaboration with Abu Dhabi Gaming, the government-led initiative driving the emirate's transformation into a global gaming hub. Rawdha Almeraikhi, Director of Outreach at MBZUAI, opened the session with a keynote focused on the University's commitment to creating platforms that empower young people and stimulate innovation. In her remarks, she said: 'Our MAILIS initiative offers an inclusive space where meaningful conversations begin with young minds, seasoned experts, and aspiring creators, who are excited and passionate about how AI can transform industries such as health, energy, creative arts, transport, and education. In this session, we explored the gaming universe through an AI lens, bridging imagination and innovation.' The program featured remarks from Marcos Muller-Habig, Abu Dhabi Gaming Sector Enablement Director, who discussed the growing impact of AI on the gaming industry, from unlocking new careers to driving business ambition. 'Artificial intelligence is not here to replace creativity or human ingenuity – it's here to amplify it,' said Marcos Muller-Habig. 'In gaming, AI is unlocking new possibilities that were once unimaginable, from personalising player experiences to more immersive storytelling. At Abu Dhabi Gaming, we are fostering local talent in this evolving space, supporting individuals and companies that are exploring new ways to move the industry forward. Abu Dhabi is rapidly becoming a global hub for innovation in gaming, with AI serving as a powerful tool to create new roles and business opportunities – and we're excited to be a part of this movement.' Boris Kalmykov, Co-founder and CEO of Hypemasters and former executive at Meta and Unity, delivered a session on how AI is revolutionizing gameplay and player experiences. Drawing on his global experience in gaming and technology, Kalmykov shared perspectives on the power of AI to reshape the business and storytelling dimensions of modern games. The session also spotlighted original projects from MBZUAI Ph.D. students. Ariana Bermudez Venegas, whose research focuses on computer vision and human avatars, presented work on AI simulation and real-time interaction in virtual environments. Hamdan Hamid Al-Ali, a system developer at Dubai Police and NLP Ph.D. candidate, shared his AI-powered games rooted in Emirati heritage, including Al Sharah and Emirati Tales, which combine cultural storytelling with educational game mechanics. The program concluded with an open Q&A session, inviting dialogue between audience members and speakers on how AI can shape the future of the creative economy. MBZUAI's MAILIS continues to grow as a platform designed to connect academia, industry, and community around AI's most exciting opportunities. By focusing on gaming and creative industries, this session affirmed MBZUAI's vision to nurture young talent, inspire innovation, and contribute to the UAE's global leadership in responsible and inclusive AI.
Khaleej Times
an hour ago
- Khaleej Times
Khaleej Times' ‘We the Women' conference returns to Dubai for third edition
The secret is out: there has never been a better time to be a woman of ambition. Especially in the UAE, which believes in helping women realise their dreams. With a number of aspirants flocking to the country for the chance to make their business ideas come to fruition and homegrown and innovative plans in the works, this is the perfect moment for the Khaleej Times' event We The Women, which will return for its third edition to Dubai's Address Skyview on October 29, 2025. The one-day conference — which brings together women from the entrepreneurial field to talk about their experiences, their challenges and tips to overcome obstacles — will be helmed by Emmy-nominated journalist Barkha Dutt in association with KT Events. The series celebrates the achievements of women from across the board — from policymakers and politicians to influencers and business leaders — who offer real-time practical advice, anecdotes, and solutions to challenges that women in the workplace face on a daily basis. In the past, We The Women 's stage in the UAE has hosted luminaries such as first Emirati filmmaker Nayla Al Khaja, paralympian Jessica Smith, podcaster Tracy Harmoush, influencer Noor Stars, Emirati athlete Hana Nabulsi, founder of Cinema Akil Butheina Kazim, Dubai Economy and Tourism's Suhaila Ghubash, among others. At the helm of the event is the renowned Indian journalist Barkha Dutt, who has been at the forefront of the dialogue on women's empowerment in India. She is an Emmy-nominated journalist and Washington Post columnist, and the curator of the We The Women conference, having established it as a leading women-centric conference in India. Reflecting on the meet in UAE, Dutt said, 'This conference brings together women from all spheres of life and stages of growth — offering opportunities for them to connect, network, and gain solutions to problems they didn't even know existed sometimes. We aim to educate, empower, and bring to the surface issues that impact real women in the real world on an everyday basis. Together, we can find a solution, a way forward.' 'Being at the top often comes at the price of loneliness,' Dutt has said before, adding that in her experience, 'at every stage, you have to fight at least four or five times harder, and when you get success, there will be people who will try to punish you for your ambition, professionalism and competence. Sometimes, you get noticed easily because you are a woman doing a job that's associated with a man. But sometimes because they notice you more, they also judge you more. But here, with this conference, we work towards making our own tribe, our little support system that can help us weather any storm.'
