UAE gold prices retreat from August high, giving buyers some relief
Dubai: Gold buyers in the UAE saw some relief on Thursday morning after local prices retreated from their highest levels of August, although rates remain well above where they started the month. (Check latest UAE gold prices here , alongside prices in Saudi Arabia , Oman , Qatar , Bahrain , Kuwait , and India .) At 9:24 am, 24-karat…
Dubai - UAE gold prices experienced a slight decline on Thursday, easing some pressure for buyers after reaching peak levels in August. At 9:24 am, 24-karat gold was priced at Dh529.75 per gram, a Dh3.50 decrease from Dh533.25 the previous day. Meanwhile, 22-karat gold fell Dh3.25 to Dh490.75, down from Dh494 on Wednesday. The relief follows Wednesday's high prices, which marked the month's highest recorded levels.
Despite the drop, gold prices remain significantly higher than at the start of August, with 24-karat gold still Dh42.50 above the August 1 level and 22-karat gold Dh39.50 higher. The decline comes as Middle East tensions appear to have lessened, shifting focus to other developments. However, global gold prices remain near $4,400 an ounce, influenced by softer US inflation data and expectations around the Federal Reserve's monetary policy.
Written by urgent.news from Gulf News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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