After continuously hitting new 6-month lows in the past few months, prices of gold in the UAE declined once again today, July 16.
During the first week of the current month, gold prices were at its lowest rate so far this year when 24-Karat (24K), 22K, 21K, and 18K gold were priced at Dh151.25, Dh142.00, Dh135.50 and Dh116.25, respectively.
Now, the retail gold rates in the country dipped further based on the latest update of Gold Prices Dubai. 24-Karat (24K) gold is currently priced around Dh150.25, while 22K gold is valued at Dh141.25.
Other types of gold, such as the 21K and 18K, are priced at Dh134.75 and Dh115.50, respectively.
The prices vary depending on the purity of gold and the market it was traded in.
The Department of Economic Development (DED) displays in public the live retail gold rate at the Gold Souk in order to ensure transparency and maintain the title of Dubai as the ‘City of Gold.’
