The retail prices of gold are now cheaper by Dh5 per gram compared to its peak rate last month.
According to latest reports, the retail gold rates of 24K gold in the UAE reached as much as Dh152.50 in July. Now, based on the updates of Dubai Gold & Jewellery Group, it is currently priced at Dh147.00, which is a Dh5.50 decrease in value.
Other types of gold, such as 22K, 21K, and 18K, have also dipped in prices and are now valued at Dh138.00, Dh131.75, and Dh113.00, 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.’
