Dubai, United Arab Emirates – Thursday, 12th April 2021.
Dubai’s famous gold market witnessed a sharp price drop this morning as global gold rates slid below $3,225 per ounce, sparking excitement among jewellery buyers and investors across the emirate.
According to data from the dubai jewellery group, 24k gold opened at dh389 per gram, falling by dh9 from wednesday’s rate of dh398—one of the steepest single-day declines in recent weeks.
Rates for other gold categories also saw noticeable declines:
22k at dh360.25.
21k at dh345.25.
18k at dh296.00 per gram.
💬 ‘we’ve already seen a surge in customer inquiries this morning,’ said a gold trader in deira gold souk
The decline in the stock market is occurring amidst global market uncertainty, as investors are reducing their investments in safe-haven assets in preparation for potential economic changes and interest rate adjustments.
📌 takeaway: whether you’re shopping for a wedding or thinking long-term investment, this price drop might be your golden moment