Gold prices in Dubai slipped below Dh400 on Friday, following a global downturn in precious metal values after China signaled it might exempt some US products from tariffs.
### Current Gold Prices
The 24K gold was available at Dh397.25 per gram, while the prices for 22K, 21K, and 18K gold were Dh367.75, Dh352.75, and Dh302.25 per gram, respectively.
### Price Decline
After reaching a peak of Dh420 per gram earlier in the week, gold prices have decreased by nearly Dh23 per gram over the last three days.
### Global Market Update
At noon, gold was trading at $3,306.97 per ounce, with dips below $3,300 observed during the early trading session.
### China’s Tariff Adjustments
China has proposed the possibility of exempting certain US imports from its 125 percent tariffs and is urging businesses to pinpoint products that may qualify for this exemption. This move indicates a significant concern from Beijing regarding the economic repercussions of the ongoing trade conflict.
### Expert Insights
Vijay Valecha, chief investment officer at Century Financial, mentioned that expectations of easing monetary policies and a decline in the value of the US Dollar have helped stabilize gold prices. He stated, “While the optimism persists amid improved US-China tariff discussions and US President Trump’s remarks regarding Fed Chair Jerome Powell, the likelihood of policy easing appears to have a greater impact. It is important to note that US Treasury Secretary Scott Bessent downplayed rumors of unilateral tariff reductions, highlighting the ongoing uncertainty surrounding the US-China trade negotiations.