KUWAIT CITY: 24 carat gold prices opened at KD 52.25 per gram, down from KD 52.46 recorded on Wednesday night. Other categories of precious metals also declined, with 22K per gram at 48.37KD, 21K at 46.39KD, 18K at 39.77KD and 14K at 31.02KD.
Globally, spot gold fell 0.17% to trade at $5,198.52 per ounce as markets reacted to changing economic signals. Silver similarly weakened, down about 1.2% to trade at 27.58 KD per ounce.
Despite the recent pullback, fundamental support for both gold and silver remains intact as geopolitical tensions and tariff disputes continue to support demand for safe-haven assets.
Adding to the market interest, JPMorgan raised its long-term forecast for gold, predicting that the price could reach $4,500 an ounce in the medium term, while maintaining its 2026 end-of-year target of $6,300. The bank cited continued structural diversification into gold by institutional investors as a key factor, suggesting that gold has significant upside potential in the coming years.
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