Gold prices experienced a minor decline on Tuesday morning, following a Dh1.5 increase per gram in the prior session. This came as global rates hit a record high of over $2,300 per ounce. In the UAE, the 24K gold was priced at Dh279.0 per gram at the market opening, showing a slight decrease of Dh0.25 per gram. Meanwhile, 22K, 21K, and 18K were trading at Dh258.25, Dh250.0, and Dh14.25 per gram respectively, at 9 am local time. Globally, gold was priced at $2,302.73 per ounce, marking a 0.32% decrease. Terence Hove, a senior financial market strategist at Exness, noted that gold prices stabilized somewhat on Monday after hitting their lowest point since early April on Friday, dropping by 3.5%. This drop was due to a stronger-than-anticipated US jobs report, which boosted the US dollar and Treasury yields. The May Nonfarm Payrolls (NFP) data led investors to reassess their expectations for a Federal Reserve rate cut. Hove added, 'Market participants are cautious ahead of this week’s crucial events. The release of US inflation data and the Federal Reserve’s rate decision are anticipated to heavily impact market sentiment, with particular attention on remarks from Fed Chairman Jerome Powell and any updates to economic forecasts by policymakers.'