On Monday, gold prices in Dubai saw a significant increase, with the 24K gold price rising by Dh6.5 to reach Dh549.75 per gram. This surge is attributed to growing optimism regarding a potential peace deal between the United States and Iran. The 22K gold price also climbed by Dh6 to Dh609.25 per gram, reflecting a broader trend in precious metal prices. Analysts note that the current market dynamics are particularly sensitive, as gold is increasingly viewed as a barometer of geopolitical tensions and economic instability. Simon-Peter Massabni, head of business development at xs.com, emphasized that the upward price movement indicates that investors are recalibrating their expectations regarding risks in the Middle East, especially concerning the Strait of Hormuz, a critical oil transit route. Any prolonged disruptions in this area could lead to significant increases in global energy costs, further driving inflation and economic growth concerns. Consequently, investors are likely to seek gold as a safe haven during these uncertain times.