UAE gold prices surge over Dh10 amid US-Iran tensions

Gold Prices Surge in UAE Amid US-Iran Tensions

The gold markets in the United Arab Emirates experienced a dramatic transformation on Monday, March 2, 2026. As tensions between the United States and Iran escalated, gold prices surged by more than Dh10 per gram, marking one of the most significant daily price hikes in recent memory.

Local retail prices mirrored international market anxiety, with global markets reacting to military strikes and regional instability. The spike reflected a classic safe-haven reaction, as investors retreated from riskier assets into gold amid heightened uncertainty.

Analysts noted that the surge was fueled by converging forces including central bank buying, inflation concerns, and a trend of diversifying away from traditional fiat currencies. Gold had been showing strength throughout February, suggesting the spark was part of a longer-term trend.

The near-term path for gold depends on geopolitical developments. A continuation of the conflict could drive prices higher, while diplomatic breakthroughs might lead to profit-taking and price stabilization.