China Expand Its Power in the Global Gold Market
With gold prices repeatedly hitting new highs and safe-haven demand staying strong, China is accelerating a long-term strategy
With gold prices repeatedly hitting new highs and safe-haven demand staying strong, China is accelerating a long-term strategy

After two consecutive sessions of halted trading (March 2–3, 2026) amid escalating regional military tensions, the UAE’s two main exchanges Dubai Financial Market (DFM) and Abu Dhabi Securities Exchange (ADX) reopened on March 4, 2026 and immediately registered a sharp decline.

On March 5, 2026, Asian markets staged a clear relief rally. Risk appetite showed signs of returning after the prior session’s shock, while U.S. Treasuries sold off (yields rose), a classic signal that investors were rotating cautiously back into risk assets.

In Thailand, Bank of Thailand (BOT) Governor Vitai Ratanakorn warned that an oil shock could cut up to 0.15% from GDP and add roughly 0.4–0.5 percentage points to inflation if average oil prices rise by $10 per barrel over the year.

On Monday morning, 2 March 2026, Dubai’s gold market opened with a sharp surge its first full market reaction since the conflict escalated over the weekend. According to Dubai Jewellery Group (DJG) data, 24K gold opened at Dh645.25 per gram, up from Dh636.0 per gram at the weekend close an increase of Dh9.25 per gram in a single move.

On Monday, March 2, 2026, Asian markets opened the week with a double shock: geopolitical risk spiked and oil prices jumped sharply. The immediate result on trading screens was a visibly weaker Indian rupee (INR) with the 91/USD level in focus, as suggested by one-month NDF pricing.

In late February 2026, the Bank of Korea (BOK) released data showing that resident foreign-currency deposits in South Korea declined in January 2026, marking the first monthly drop after three consecutive months of increases.

On Friday morning, Feb. 27, 2026, gold and silver prices in Dubai slipped slightly at the open. But the bigger picture tells a familiar market story: prices can wobble day to day, while the safe-haven foundation remains firmly in place supported by escalating geopolitical risks, tariff uncertainty, and renewed concerns about supply-chain disruption.
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Seoul shares closed lower on Friday, Feb. 27, 2026, snapping a six-session winning streak as investors locked in profits in technology and other heavyweight stocks after a rapid run-up. At the same time, the Korean won weakened sharply against the U.S. dollar another signal that risk appetite softened into the session.

After a record-setting 2025 for gold, UBS has released a forecast that’s hard for both bulls and cautious investors to ignore: gold could reach $6,200 per ounce by mid-2026.