Business
Gold slips below AED 500 per gram in UAE as prices retreat after recent rally
Silver also declines as precious metals pull back following a brief recovery
The price of 24-karat gold fell below the AED 500 mark, declining by around AED 3.75 per gram compared to the latest transactions. File picture used for illustrative purpose.
Dubai: Gold and silver prices in the UAE declined during Tuesday's trading, reversing part of the gains recorded over the past few days after gold reached a two-week high in global markets during the previous session.
The price of 24-karat gold fell below the AED 500 mark, declining by around AED 3.75 per gram compared to the latest transactions.
Gold prices in the UAE
- 24-karat: AED 497.25 per gram
- 22-karat: AED 460.50 per gram
- 21-karat: AED 441.50 per gram
- 18-karat: AED 378.50 per gram
Silver prices in the UAE
Silver prices also declined in line with weaker global market performance.
- Silver (per gram): AED 7.15
- Silver (per ounce): AED 222.43
- Silver (per kilogram): AED 7,151.29
The decline comes after a brief recovery in precious metals prices, with gold having touched its highest level in two weeks in international markets before easing during the latest trading session.