Gold Prices Drop Significantly in UAE; Best Time to Buy Gold

Dubai: The trend of declining gold prices continues in the UAE. As of this morning, gold prices in the UAE have reached the lowest point in the last five weeks. According to the Dubai Jewellery Group (DJG) calculations, the price for 24-carat gold stands at AED 245 per gram as of Sunday, February 24. This represents a significant drop from the ED 247 per gram price recorded last night.

Check Here: Dubai Gold Rate Today

It is the lowest price in recent weeks, marking a decline from the previous rate of AED 5.5 per gram in the UAE.

Similarly, the prices for variations, such as 22K, 21K, and 18K, are currently AED 228, AED 220, and AED 186 per gram, respectively. This reflects a general decrease in gold prices across various categories today. Throughout the week, there has been a consistent drop of AED 5.5 per gram in gold prices in the UAE.

At 9:25 AM, spot gold prices fell by 0.1% as of Friday, reaching $2,006.88 per ounce. This is a decrease from Wednesday’s rate of $2,001.72. The present value is the lowest recorded since December 13, 2023.

Analysts suggest this is an opportune time for investors to consider purchasing gold, given the current market conditions. The drop in gold prices presents a favorable buying opportunity, and experts closely monitor the market for further fluctuations.

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Investors and gold enthusiasts are advised to stay updated on market trends as gold prices are subject to change based on global economic factors and geopolitical events.