Gold prices in Dubai experienced a downward trend on Wednesday following a sluggish start to the week. The 24K gold rate dropped to Dh523.50 per gram, compared to the previous day's closing price of Dh526. Other gold variants, including 22K, 21K, 18K, and 14K, also saw adjustments, trading at Dh484.75, Dh464.75, Dh398.50, and Dh310.75 respectively. Market analysts attribute this pressure on precious metals to persistent inflation concerns and increased investor interest in oil. Despite the local decline, spot gold prices showed a marginal increase of 0.11 percent, while silver recorded a 0.95 percent gain. Financial experts note that the broader precious metals market remains sensitive to these shifting macroeconomic factors.
Source : Khaleej Times
Photo : Khaleej Times
