Dubai, United Arab Emirates – Gold prices in Dubai fell at the start of the week, mirroring a global trend as investors awaited key economic data releases.

The 24-karat gold price in Dubai opened at Dh237.0 per gram on Monday, down from Dh237.25 per gram at last week's close. The 22-karat, 21-karat, and 18-karat gold prices also opened lower, at Dh219.5, Dh212.5, and Dh182.0 per gram, respectively.

Globally, spot gold fell 0.1 percent to $1,955.49 per ounce. The dollar index held firm, making bullion less attractive for buyers holding other currencies.

Investors are cautious ahead of Thursday's US inflation readings, which could influence the Federal Reserve's interest rate policy. Higher interest rates tend to weigh on gold prices, as they make holding the non-yielding metal less attractive.

"The market is waiting for the inflation data and the Fed's reaction," said one analyst. "If inflation comes in higher than expected, it could put pressure on gold prices."

Despite the recent decline, gold prices have been relatively resilient this year, up about 5 percent from their lows in January. The precious metal is seen as a safe haven asset in times of economic uncertainty, and it has benefited from concerns about inflation and a potential recession.

"Gold prices are likely to remain volatile in the near term, but the long-term outlook is still positive," said another analyst. "Investors are still concerned about inflation and the geopolitical risks, and gold is a good hedge against these risks."