Tag: Gold prices UAE

Today’s gold rates in Dubai are still higher when compared to the prices in the beginning of the month, when 24K was retailing at Dh154 per gram.

In Dubai the city of gold, Gold prices in the UAE for Gram 24-carat DH 159 .50 , gram 22 carat DH 150.75 , Gram- 21 carat DH 141.12 and 18 carat DH 121.50 .

Gold prices rose to a nine-month high as investor fears dominated them to risk risk-taking in favor of safe-haven investment such as gold after a new missile test for North Korea.

Gold prices are currently trading at $ 1320.1 per ounce after recording a low of $ 1313.7 per ounce and opened the day at $ 1317.2 per ounce as it reached $ 1318.4.

North Korea fired a medium-range missile over Japan before falling into the ocean in northern Japan in a new provocation to the United States in response to its military exercises with South Korea on the Korean Peninsula.

Stock indices fell sharply as well as demand for major currencies as investors rushed to gold as a safe haven in the market to jump to a nine-month high.

On the other hand, the US dollar is witnessing a drop to a 15-month low against the major currencies, which supports the rise in gold prices significantly.

The UAE ranks the first place worldwide in per capita consumption of gold, superior to the ancient countries such as India, in a new indicator on the strength of the State economy, according to Emirates today.

“Gold Group” of the Chamber of Commerce and Industry of Abu Dhabi, the expectation that prices are gold in the state decline during the next six months, revealing that sales of gold jewelry in Abu Dhabi, exceeded six billion dirhams during the first eight months of this year, and it is expected sales to exceed nine billion dirhams at the end of the year.

“the average per capita consumption in the Emirates of gold reached 30 grams per year, compared to just one gram per capita in India, for example,” noting that “this is a sign of the strength of the economy is growing, and high levels of living in the state. ” Said Abdul Wahid Al Marzouki the secretary “Gold Group”