Gold price in United Arab Emirates: Rates on May 14

Finance

Gold price in United Arab Emirates: Rates on May 14

Gold prices fell in United Arab Emirates on Wednesday, according to data compiled by FXStreet.

The price for Gold stood at 380.95 United Arab Emirates Dirhams (AED) per gram, down compared with the AED 383.82 it cost on Tuesday.

The price for Gold decreased to AED 4,443.28 per tola from AED 4,476.77 per tola a day earlier.

Daily Digest Market Movers: Gold price continues to be pressured by trade optimism

US President Donald Trump said on Monday that he does not see tariffs on Chinese imports returning to 145% after the 90-day pause. In a Fox News interview earlier this Wednesday, Trump said that the relationship with China is excellent, adding to the trade optimism and undermining the safe-haven Gold price during the Asian session.

On the geopolitical front, Russia and Ukraine are set for their first high-level face-to-face talks since 2022 in Istanbul this week amid increasing demand for Russia to agree to a 30-day ceasefire. On the US side, Secretary of State Marco Rubio and special envoys Steve Witkoff and Keith Kellogg are expected to attend the negotiations.

The Israeli military said it intercepted a hypersonic ballistic missile fired by the Iran-aligned Houthis militia group towards Ben Gurion Airport near Tel Aviv from Yemen on Tuesday evening. This keeps geopolitical risks in play and might hold back traders from placing aggressive bearish bets around the XAU/USD pair.

The US Bureau of Labor Statistics (BLS) reported that the headline Consumer Price Index (CPI) edged lower to the 2.3% YoY rate in April from 2.4% in the previous month. Meanwhile, the core CPI, which excludes volatile food and energy prices, matched consensus estimates and rose 2.8% on a yearly basis in April.

Traders are still pricing in the possibility that the Federal Reserve will lower borrowing costs by 56 basis points in 2025. This fails to assist the US Dollar to attract any meaningful buyers following Tuesdays pullback from a one-month high and should contribute to limiting deeper losses for the non-yielding yellow metal.

There isnt any relevant market-moving economic data due for release from the US on Wednesday, leaving the USD at the mercy of scheduled speeches from Fed officials. Apart from this, the broader risk sentiment will play a key role in producing short-term trading opportunities around the commodity.

FXStreet calculates Gold prices in United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on the market rates taken at the time of publication. Prices are just for reference and local rates could diverge slightly.