|15 September, 2019

Time to buy? UAE gold prices tumble during weekly trading

The price of 24-karat gold reached AED 175.85 per gram last Friday

Image used for illustrative purpose. Shopkeeper sits in his shop in Dubai gold souk.

Image used for illustrative purpose. Shopkeeper sits in his shop in Dubai gold souk.

REUTERS/Tamara Abdul Hadi

UAE – Mubasher: Gold prices in the UAE markets fell again during the weekly trading as China-US trade war calmed down.

The price of 24-karat gold reached AED 175.85 per gram last Friday, 14 September, compared to AED 178.04 on Friday, 7 September.

Additionally, the 22-karat gold price dropped to AED 161.19 per gram from AED 163.21 per gram.

As for the price of the 21-karat gold, it decreased to AED 153.87 per gram this week, versus AED 155.79 last week.

Meanwhile, the price of the 18-karat gold per gram slid to AED 131.89 from AED 133.53.

The price of gold in the UAE recorded AED 5,469 per ounce and AED 175,845 per kilo, while the pound of gold valued at AED 1,231.

At the global level, the prices of the precious metal declined to 1,500 by the end of last week, recording weekly losses of nearly 1.1% or $16.

Translated by: Mai Ezz El-Din

Source: Mubasher Exclusive

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