We all know that Dubai is the city of Gold. Gold price in Dubai is a highly discussed topic among gold dealers. Gold is one of the most precious thing on the planet earth is gold. It is been the most desirable since the ancient time of human history. Not only as jewelry, but it is also popular as an investment, for a long time. This precious metal also used as money throughout history. The price of gold is always driven by supply and demand.
Gold is also used as a hedge against inflation, deflation, or currency devaluation for a long time. The standard of gold always implemented in the monetary policy. Almost all the countries worldwide keep gold as liquid reserves. Dubai is the largest gold market in the world.
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Current Trend of Gold price in Dubai
On June 21, Gold price in Dubai rise 6% after six weeks. The gold price was dropped at an alarming rate like never before. The valuable metal price dropped nearly six percent, facing the biggest loss in the last fifteen months. In Dubai currency is AED (Dubai Dirham). The prices of gold change constantly. Gold price is shown per gram, per ounce, and per kilograms.
Gold can be categorized or measured by karat. Pure gold which is commercially termed as fine gold is defined as 24 karats. 24 karats are the finest category. It is usually referred to as 99.9℅ pure gold. There are also available 22, 21, and 18 karats. There are other gold purity levels, but these karats are widely used in Dubai.
22k Gold Price In Dubai
UAE gold rate (AED)
|Time||Type ounce (AED)||24 karats||22 karats||21 karats||18 karats|
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Gold prices dropped at the lowest point ever last week on Monday due to the stronger US dollar.
Since June 4, the gold price was down 0.52 percent at $1,864.04 per ounce, as of 9.20 am UAE time. It is the lowest in this month.
It is assuming that the gold price is dropping due to global inflammation. According to many financing analysts, US dollars got higher than its comparison to AED. At this moment 1 US Dollar is equal to 3.67 AED.
You can download several apps from different apps stores where you can see gold prices regularly. Gold price in Dubai is an important issue for all the gold traders around the world. If you are planning to buy some gold you must check the gold price before heading towards the market.