Why did gold prices in Dubai ease after a sharp rise, and what’s next?

Gold prices dipped slightly after jumping nearly Dh8 per gram in 24 hours, with 24K trading around Dh581.5 per gram, as markets reacted to easing pressure from a weaker US dollar and improving sentiment around potential negotiations between the US and Iran; while geopolitical tensions—including those linked to the Strait of Hormuz and ongoing conflicts like Russia-Ukraine conflict—continue to support gold as a safe-haven asset, analysts say future price movements will largely depend on global political developments and upcoming US economic data such as inflation, which could influence interest rate expectations and investor demand. Do you think gold will continue rising amid global uncertainty, or is a correction likely in the coming weeks?

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