Dubai witnessed a significant increase in gold and silver prices on Monday, February 23, 2026. The price of 24K gold surged by over Dh6, indicating a robust upward trend in the precious metals market. Similarly, the spot silver price rose by 3.1%, climbing to $87.23 per ounce, the highest in over two weeks.
This boost in prices followed a notable event in the global economic landscape: the US Supreme Court’s recent tariff ruling, which positively influenced worldwide market sentiment.
Impact on the Market
Market analysts emphasize that this price rise could have considerable effects on investors and traders in the Gulf region. Dubai’s significance as a major hub for precious metals trading is further highlighted by this development.
Possible Consequences
- Changes in consumer demand for gold and silver
- Adjustments in investment strategies targeting precious metals
- Broader influence on trading activities within Dubai and neighboring markets
The commodities sector remains sensitive to global legal and economic events, and the recent price uplift reflects optimism among traders. Dubai’s role as a key player in the gold and silver markets is evidently strengthening amid these favorable conditions.
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