UAE: Gold Prices Fall in the Wednesday Early Trade

Gold prices in the UAE opened lower on Wednesday, continuing a trend of decline in precious metal prices. 

The Dubai Jewellery Group reported the following prices for various gold variants per gram:

• 24K: Dh220.75
• 22K: Dh204.5
• 21K: Dh198.0
• 18K: Dh169.75

These prices represent a decline compared to the previous night’s close.

The decline in gold prices follows a seven-session downward trend, with prices reaching their lowest levels since March at $1,813.90 per ounce. 

Factors contributing to this decline include the strengthening of the US dollar and higher US bond works, along with an outlook of higher Federal Reserve rates.

Analysts note that retail traders continue to increase their bullish exposure to gold despite the recent decline in prices.

Get all the latest update on UAE Times Now