Incoming high-net-worth individuals (HNWIs) are projected to invest a staggering $4.4 billion in Dubai property in 2024, representing a remarkable 76 percent increase from the previous year.

This surge in investment underscores Dubai’s growing appeal as a safe haven for the world’s wealthy elite.

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Gold prices slipped in the UAE at the opening of the markets on Monday.

The Dubai Jewellery Group data showed 24K trading at Dh232.75 per gram on Monday morning as compared to last week’s close of Dh233.0 per gram. While 22K, 21K and 18K were trading at Dh215.5, Dh208.5 and Dh178.75 per gram, respectively.

Spot gold was trading at $1,925.89 per ounce at 9.10am UAE time.

Bas Kooijman, CEO and Asset Manager of DHF Capital, said the release of the Federal Reserve’s minutes last week reinforced expectations of higher interest rates which could make gold less appealing in the face of higher yield risk-free assets.

“*The anticipation of future rate hikes and the changing estimates regarding the peak rate could also play a role in undermining gold*,” he said.

Daniel McCarthy, strategist, dailyFX, said the precious metal started the week holding onto the gains seen on Friday when the US dollar dropped.

“*Of potential concern for gold bulls is the run-up in US real yields. The real yield is the nominal yield less the market-priced inflation rate derived from Treasury inflation-protected securities for the same tenor,*” he said.

Sources: [Khaleej Times](https://www.khaleejtimes.com/business/markets/uae-gold-prices-slip-in-dubai-in-early-trade-on-first-trading-day-of-the-week)

[Mena FN](https://menafn.com/1106576585/Uae-Gold-Prices-Slip-In-Dubai-In-Early-Trade-On-First-Trading-Day-Of-The-Week)

[UAE Times](https://uaetimes.ae/uae-gold-slips-in-early-dubai-session-on-first-session-of-the-week-news/)

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UAE: Gold prices slip in Dubai in early trade on first trading day of the week

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Gold prices rose in the UAE on Wednesday morning after dropping one dirham per gram on Tuesday evening.

According to Dubai Jewellery Group data, the 24K opened higher at Dh233.75 per gram on Wednesday as compared to last night’s close of Dh233.25. While 22K, 21K and 18K were trading at Dh216.5, Dh209.5 and Dh179.5 per gram, respectively, at 9 am UAE time.

Spot gold was up 0.32 per cent at $1,931.64 per ounce by 9.40 am UAE time.

Bas Kooijman, CEO and asset manager of DHF Capital, said gold prices recorded some volatility as markets turned to more caution as traders digested the US credit rating downgrade as well as the economic data in Europe and the US.

“*Gold has been on a rebound since the beginning of July but could come under pressure as some uncertainty takes over. The credit rating downgrade has fueled mixed reactions on the market and could push some investors toward safer assets including gold*,” he said.

While concerns about a recession in the US have been declining in particular after the Federal Reserve announced it didn’t forecast one anymore, traders could continue monitoring economic developments in the US as well as the path of US monetary policy, said Kooijman.

“*The time gap until the next monetary policy meeting in the US could leave some room for uncertainty which could impact gold’s performance and could fuel volatility. In this regard, gold could be exposed to the downside if traders’ expectations move toward more interest rate hikes in the near future*,” he added.

Sources: [Khaleej Times](https://www.khaleejtimes.com/business/markets/uae-gold-prices-recover-in-dubai-after-dropping-dh1-on-tuesday)

[Zawya](https://www.zawya.com/en/markets/commodities/gold-prices-recover-in-dubai-after-dropping-on-tuesday-qq672sk9)

[Write Caliber](https://news.writecaliber.com/financial-markets-united-arab-emirates-gold-prices-recover-in-dubai-after-dropping-on-tuesday/)

[MenaFN](https://menafn.com/1106815759/Uae-Gold-Prices-Recover-In-Dubai-After-Dropping-Dh1-On-Tuesday)

UAE: Gold prices recover in Dubai after dropping Dh1 on Tuesday

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UAE’s HNWI influx to drive $4.4bn in Dubai real estate investments by year’s end