Gold Prices in the UAE Shows Stability on Wednesday May 22, 2024
Gold Prices in the UAE Shows Stability on Wednesday May 22, 2024
UAE: Gold Prices in the UAE Shows Stability on Wednesday May 22, 2024, compared to yesterday’s rates. Here’s a breakdown of the current prices and yesterday’s figures:
| Gold Carat | Price Today (AED per gram) | Price Yesterday (AED per gram) | Change |
|---|---|---|---|
| 24K | 294.00 | 294.00 | No Change |
| 22K | 272.25 | 272.25 | No Change |
| 21K | 263.50 | 263.50 | No Change |
| 18K | 226.00 | 226.00 | No Change |
As you can see, prices for all four commonly traded gold varieties (24K, 22K, 21K, and 18K) remained stable compared to Tuesday, May 21rd. This indicates a relatively steady market in the UAE today.
Gold prices are influenced by various global factors, including:
- Global economic conditions: Economic uncertainty often leads to increased gold demand as an investment hedge.
- Interest rates: Lower interest rates make gold a more attractive investment compared to interest-bearing assets.
- Supply and demand: Fluctuations in gold supply and demand from major producers and consumers can affect prices.
- Currency exchange rates: Changes in the US dollar exchange rate can impact the price of the gold denominated in other currencies like the UAE Dirham.
Also Read: UAE Gold Rates Remain Stable on May 20, 2024
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