Today's Edition
AMEINAH ALZEYOUDI (ABU DHABI)
Gold prices in the UAE maintained relative stability in recent weeks despite global fluctuations and demand is on the rise.
The price per gram of 24-karat gold in the UAE stood at 281.75 on Sunday, while for 22 and 18 karats it was Dh260.75 and Dh 216.50 respectively.
The gold markets in UAE are also witnessing increasing demand, particularly from investors looking for safe and stable investments.
Gold prices held steady on Friday after the US inflation report matched expectations, fueling hopes that the Federal Reserve would cut interest rates by September.
Traders are also keeping a close watch on the US presidential election and geopolitical developments as political uncertainties increase gold's demand as a safe-haven investment.
Though global market dynamics influence, the UAE's gold souks remain vibrant and prices remain relatively steady, thanks to the cultural importance of the precious metal in citizens' and residents' significant occasions.
