Global gold prices surged again this week, nearing record highs as investors turned to the precious metal amid a weakening U.S. dollar and falling Treasury yields. In Dubai, 24-carat gold rose to 524.50 dirhams per gram on Thursday, just below the year’s peak of 525.25 dirhams recorded in October. Prices for other purities also climbed, with 22-carat gold at 485.75 dirhams and 18-carat at 399.25 dirhams.

Analysts attribute the rise to concerns over the U.S. Federal Reserve’s independence and fears of political interference, which have heightened uncertainty in financial markets. Hani Abuagla, senior market analyst at XTB MENA, noted that geopolitical tensions across Europe, the Middle East, and Asia are further driving demand for gold as a safe-haven asset.

Experts describe 2025 as a pivotal year for gold, with inflation trends, economic slowdowns, and potential restrictive policies likely to sustain upward pressure on prices. Investors are expected to closely monitor central bank actions and global risk developments in the coming months.