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Gold prices drop as global banking crisis concerns ease

Gold prices fell on Wednesday due to decreasing concerns over a potential fallout from the global banking crisis.

As a result, demand for safer assets, such as gold, decreased, and investors became more interested in riskier assets.

At the opening of the market in the UAE, 24K gold was trading at Dh238.0 per gram on Wednesday. Meanwhile, 22K, 21K, and 18K opened at Dh220.5, Dh213.25, and Dh182.75 per gram, respectively.

Spot gold was trading 0.33% lower at $1,965.42 per ounce as of 9:40 am UAE time.

Staff Report

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