Newsroom
Short, verified market news summaries; every item names its source and publication date.
Dubai Gold Eases as Higher US Yields Blunt Safe Haven Demand
24-karat gold in Dubai fell to 495.75 dirhams per gram on Friday, July 10, 2026, down from 497.25 dirhams on Thursday, while 22-karat gold slipped to 459 dirhams from 460.50 dirhams, according to Gulf News. Elevated US Treasury yields and a firmer dollar, amid uncertainty over the Federal Reserve's rate path, offset some of the safe haven demand generated by the Iran-US war. Global gold prices nonetheless remained above 4,100 dollars an ounce.
Gulf News · Jul 10, 2026
Dubai Gold Exchange to Launch Dirham Settled Gold Futures
The Dubai Gold and Commodities Exchange (DGCX), owned by the Dubai Multi Commodities Centre (DMCC), announced plans to launch dirham settled gold futures for one kilogram bars meeting UAE Good Delivery and LBMA standards. According to Khaleej Times, the contract, which is subject to approval from the Central Bank of the UAE and the Securities and Commodities Authority, will be offered in spot and monthly futures formats out to twelve months with physical delivery. The plan is aimed at reducing the Persian Gulf region's reliance on the US dollar in gold trading and reinforcing Dubai's position as a global bullion hub.
Khaleej Times · Jul 10, 2026