Gold prices made a huge drop, reaching a new 12-month low record last July 19.
Earlier this week, gold prices dropped and has reached one of the lowest rate this year when 24-Karat (24K), 22K, 21K, and 18K gold were priced at Dh150.25, Dh141.25, Dh134.75 and Dh115.50, respectively.
Now, the retail gold rates in the country dipped further and reaching its lowest rates in the past year, reported Khaleej Times.
Based on the latest update of Gold Prices Dubai. 24-Karat (24K) gold is currently priced at Dh148.25, while 22K gold is valued at Dh139.25.
Other types of gold, such as the 21K and 18K, are priced at Dh132.75 and Dh113.75, 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.’
