Dubai Gold Rates Surge Amid Trump’s Tariff Relief

Dubai’s gold market witnessed a sharp price surge as global investors flocked to the precious metal following U.S. President Donald Trump’s announcement of temporary tariff relief. The move has sent ripples across international markets, driving gold prices to record highs and solidifying its position as a safe-haven asset amidst ongoing geopolitical and economic uncertainty. Gold Prices Hit New Highs As of April 9, 2025, spot gold surged past the psychological threshold of $3,060 per ounce, marking a 3% increase in just one day. This significant rise reflects heightened investor demand for gold as fears of trade wars and inflation dominate global economic sentiment. In Dubai, the price of 24-karat gold climbed to ₹90,500 per 10 grams, while 22-karat gold rose to ₹82,900 per 10 grams, showcasing similar upward trends in local markets. The surge comes after Trump temporarily suspended the implementation of reciprocal tariffs on Chinese imports, which were initially set at a staggering 104%. This decision provided temporary relief to global markets but also underscored the volatility surrounding trade relations between the two largest economies in the world. Impact of U.S.-China Trade Tensions Trump’s aggressive tariff policies have