UAE Gold Prices Hit June Low, Offering Relief to Buyers
Dubai, UAE : Gold prices in Dubai fell on Monday, reaching their lowest level so far in June and giving UAE shoppers a welcome break after weeks of high rates.
The price of 24K gold dropped to Dh519.75 per gram from Dh521.75 on Sunday, while 22K gold fell to Dh481.25 from Dh483.
Since June 2, 24K gold has declined by Dh22.75 per gram, down from Dh542.50, while 22K gold has fallen by Dh21 from Dh502.25.
The latest drop follows losses in global gold markets and marks a sharp reversal from the higher prices seen at the start of the month, when 24K gold traded above Dh539 per gram.
The lower rates could encourage more buyers to purchase jewelry and investment gold as Dubai remains one of the world’s top destinations for gold shopping.
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