Gold CFD trading in the UAE has emerged as the dominant market for traders using Capital.com with nearly half of all trading activity in the Middle East was concentrated in the precious metal during the second quarter of 2026, as regional tensions fuelled demand for safe-haven assets.

Gold trading dominates UAE as Middle East tensions drive Capital.com volumes

Capital.com, which was voted best CFD broker in the UAE in the Good Money Guide Awards, reported that the Middle East accounted for 57.2% of its global trading volumes between April and June, making it Capital.com’s largest region by activity. Within the region, 49.9% of trading volume was in gold, significantly higher than the platform-wide average of 42.4%, underlining the precious metal’s popularity among UAE and wider Middle Eastern traders.

The figures suggest the conflict involving Iran had a significant impact on trading behaviour. Capital.com, which also offers forex trading in the UAE, said April was the busiest month for commodity markets after disruption to shipping through the Strait of Hormuz triggered sharp moves in both energy and precious metals. As geopolitical uncertainty increased, traders rotated heavily into gold before gradually shifting back towards equity markets as tensions eased in May and June.

Kyle Rodda, Senior Market Analyst at Capital.com, said the changing geopolitical backdrop drove clear shifts in client positioning.

“The Strait of Hormuz disruption in April concentrated activity in energy and gold markets. As the situation eased in May, we saw activity rotate toward equity indices, with that trend continuing into June.”

UAE Traders Are Still Driving Capital.com Growth

Despite the war in Iran, the latest figures continue a trend identified by Good Money Guide last year, when Capital.com revealed that the Middle East had become its fastest-growing market. During the first half of 2025, MENA traders generated more than $804 billion in trading volumes, with the UAE accounting for almost three-quarters of regional activity. At the time, trading was largely dominated by equity indices such as the Nasdaq-100, but the latest data suggests geopolitical uncertainty has shifted much of that activity towards commodities, particularly gold.

Tarik Chebib, CEO of Capital.com Middle East, said the concentration of gold trading reflects both regional demand and the importance of commodity markets to investors across the Gulf.

“The concentration of commodity market trading in the Middle East reflects the region’s strong demand for gold and energy instruments,” he said, adding that the firm’s focus is now on encouraging greater adoption of risk management tools such as stop-loss orders.

Although equity trading picked up as markets recovered during June, the second quarter demonstrates how quickly UAE traders respond to geopolitical events, with gold once again proving its status as the region’s preferred safe-haven asset during periods of heightened uncertainty.