UAE Gold Prices Dip Despite Global Gains; Weekly Loss Recorded
Gold prices edged down during today’s trading in the UAE, according to data from gold-price-today.com, a platform tracking bullion rates across Arab markets.
The drop across UAE markets comes even as international gold prices settled higher by the end of yesterday's session, though the precious metal still posted an overall weekly loss of 1.5%.
The latest gold rates in the UAE are as follows:
24-Karat Gold: AED 524.00 per gram
21-Karat Gold: AED 465.25 per gram
18-Karat Gold: AED 398.75 per gram
Gold Ounce: AED 16,298.25
Global Gold Rates Global gold prices closed higher at the end of yesterday's session, recovering from recent declines despite strong US inflation data that reinforced bets on a Federal Reserve interest rate hike next week, according to Reuters.
At the close, spot gold gained 1.1% to reach $4,363.01 per ounce, while US gold futures settled little changed at $4,408.90 per ounce.
Despite the late-session rebound, bullion logged an overall decline of about 1.5% over the past week.