Dubai gold prices declined on September 4. It is giving UAE buyers a modest price reduction after bullion recorded a strong gain in the previous session.

The 24K gold rate fell to AED 539.25 per gram on Friday. It closed at AED 542 per gram on Thursday. The 22K rate also moved lower to AED 499.25 per gram. The previous closing rate was AED 502 per gram.

Other gold categories also recorded declines. The 21K rate stood at AED 478.75 per gram, while 18K gold was priced at AED 410.25 per gram.

International gold traded around USD 4,467.49 an ounce on Friday. The metal slipped 0.57% in the latest pricing after gaining about 2% on Thursday.

The decline came as traders turned their attention to US jobs data. The report could offer fresh signals about the Federal Reserve’s interest-rate path.

Recent comments from Fed Governor Christopher Waller reduced expectations for an immediate rate increase. Investors are now watching economic data closely for further clues on the central bank’s next decision.

Gold prices are sensitive to changes in interest-rate expectations. Higher rates can make non-yielding assets such as gold less attractive to investors.

Central-bank purchases are also supporting the bullion market. Market analyst Ross Maxwell of VT Markets said this demand could help limit pressure on gold prices.

For UAE shoppers, Friday’s decline provides some relief after the latest price swings. The move also keeps attention on whether gold can hold its recent elevated levels.

The next major signals are expected from US employment and inflation figures. Those reports could influence expectations for Federal Reserve policy and shape the direction of international gold prices.

Also Read: Dubai Gold Takes a Hit: Prices Slide as Fed Meeting Nears