UAE: Gold prices drop by Dh3 after hitting a record high

Gold prices continued their downward journey at the opening of the markets in Dubai on Thursday after hitting a record high earlier this week. At 9am UAE time, the 24K fell to Dh310.5 per gram compared to Dh311.

25 per gram at the close of the markets on Wednesday, down Dh0.75 per gram. The yellow metal has lost Dh3 per gram this week after hitting Dh313.



5 on Monday evening. Among the other variants, 22K, 21K and 18K opened lower at Dh287.5, Dh278.

25 and Dh238.5 per gram, respectively. Stay up to date with the latest news.

Follow KT on WhatsApp Channels. Globally, spot gold was trading at $2,567.13 per ounce, up 0.

31 per cent. It hit $2,589 earlier this week. The gold prices are adjusted in the morning to align with overnight global rate fluctuation.

Michael Brown, senior research strategist at Pepperstone, said in terms of specific levels, $2,600 per ounce stands out as the most significant near-term resistance, if only due to its psychological significance as a round number..