Gold prices in the UAE remained stable during the initial trading session of the week. Data from the Dubai Jewellery Group indicates that the 24K, 22K, and 21K gold varieties were priced at Dh277.75, Dh257.25, and Dh249.0 per gram respectively, mirroring last week's closing figures. In contrast, the 18K gold opened slightly higher at Dh213.5 per gram on Monday compared to Dh213.25 per gram at the close of the previous week. On a global scale, gold was trading at $2,295.57 per ounce, marking a 0.14% decrease. In May, gold prices approached $2,450, surpassing April's highs but did not manage to stabilize near record levels. Over the past two weeks, prices fluctuated between $2,330 and $2,360, exhibiting a minor downward trajectory evident on daily candlestick charts. Alex Kuptsikevich, a senior market analyst at FxPro, noted that gold's volatility has significantly reduced in recent days as traders contemplate their next actions, amidst a corrective downturn in many commodities. Kuptsikevich explained that gold has now dipped to its 50-day moving average support level, attracting temporary interest from short-term buyers. This average has served as a support for the upward trend since October of the previous year. The impact of this support is evident as other actively traded metals like silver, platinum, and copper have consistently declined in price over the past week. However, there is no assurance that this trend will persist. He further added that further drops in raw material asset prices could lead to a capitulation among gold bulls.