UAE: Gold prices drop in Dubai, as 24K trades below Dh222 per gram
Web report/Dubai
Reuters file photo
Precious yellow metal eases on a stronger dollar, US Treasury yields
Gold prices fell in Dubai on Wednesday morning in line with a drop in global rates due to a rise in US Treasury yields and a stronger dollar.
Spot gold was down 0.33 per cent or $6.0 an ounce at $1,829.65 per ounce by 9.15am UAE time.
In the UAE, 24K retail price fell by a dirham to Dh221.75 per gram on Wednesday morning, while 22K, 21K, and 18K gold prices declined to Dh208.25, Dh198.75, and Dh170.25 per gram, respectively.
Gold price fell by Rs 229 to Rs 47,074 per 10 gram in the national capital on Wednesday following a decline in global precious metal prices, according to HDFC Securities.
Gold Eyes Further Gains this Week albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Last year, gold gave a return of 43%. If compared to the highest level, gold has declined up to 25%. Gold is at the level of Rs 46900 per 10 gram on MCX, which means that it is still getting cheaper by Rs 9300.
Gold rate today May 4: Gold price goes up by Rs 2,000 per 100 gram - check city wise rate
The increase in the gold rate has come after the precious metal got cheaper throughout the second half of April and the beginning of May. (Image Source: Pixabay)
Updated: May 4, 2021, 09:30 AM IST
Gold price on Tuesday went up by Rs 2,000 per 100 gram. The increase in the gold rate has come after the precious metal got cheaper throughout the second half of April and the beginning of May.
After a sharp fall in the Indian market last week, gold and silver prices increased on Monday. On MCX, gold rates were up 0.6% to Rs 47,004 per 10 gram. Silver rose 0.6% to Rs 68,789 per kg.