Dubai, UAE – Thursday Morning.
Gold prices plunged in dubai on thursday morning as global markets saw the precious metal dip below $3,225 per ounce, sparking a noticeable drop in local retail rates.
According to the dubai jewellery group, 24k gold opened the day at dh389 per gram, down dh9 from dh398 on wednesday. This sharp decline reflects broader movements in the international gold market, which has been impacted by stronger economic data and shifting investor sentiment.
Prices for other gold categories also saw a substantial decline:
The current price of 22k gold is Dh360.25 per gram.
21k is equivalent to dh345.25 per gram.
The value of 18k gold dropped to Dh296.00 per gram.
The unexpected decrease in prices presents a favorable chance for buyers and investors seeking to acquire properties at a more affordable rate. Experts suggest that market volatility may continue in the short term, driven by global economic factors including interest rate outlooks, inflation data, and geopolitical tensions.
💡 tip for shoppers: if you’re planning to buy gold jewellery or invest in bullion, now may be a good time to take advantage of the lower prices—though analysts advise keeping an eye on market trends as fluctuations continue
