Highlights
- 24K gold per gram: AED 236.00
- 22K gold per gram: AED 218.50
- 21K gold per gram: AED 211.50
- 18K gold per gram: AED 181.25
Global Market Update:
- Spot gold up 0.3% at $1,951.19 per ounce
- Non-interest-bearing metal moves towards its biggest weekly decline in five
- Bullion’s weekly fall stands at 0.4%, the largest since June 23
Gold prices in Dubai have witnessed a decline following a brief surge to a one-week high. The surge was attributed to strong U.S. economic data, which spurred the dollar and bond yields in a high-interest-rate environment.
Dubai Jewellery Group (DJG)
According to data available on the Dubai Jewellery Group (DJG), the price of 24K gold per gram today is AED 236.00, while 22K gold is priced at AED 218.50 per gram. The price for 21K gold per gram stands at AED 211.50, and 18K gold is priced at AED 181.25 per gram.
The Dubai Jewellery Group (DJG) is a prominent trade group representing over 600 members from all sectors of the jewellery trade in the UAE.
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In the global markets, the non-interest-bearing metal is heading towards its largest weekly decline in five weeks. Spot gold was up 0.3% at $1,951.19 per ounce as of 0249 GMT. However, it had earlier hit its lowest level since July 12 and ended 1.4% lower in the previous session. Bullion has declined by 0.4% so far this week, marking its most substantial weekly fall since June 23, as reported by Reuters.
The higher drift in gold prices lacks conviction, as there is still indecision at play in the lead-up to the upcoming Bank of Japan meeting. Speculations about the meeting discussing tweaks to its yield curve control policy have kept market participants on edge.
As the global market remains cautious, Dubai’s gold prices reflect the broader trends. Investors and traders are closely monitoring the economic indicators and developments that could influence gold’s future trajectory.
