Dubai Gold Hits New Highs Amid Global Market Gains
Dubai's gold market saw gains on Friday, as international bullion prices strengthened. The Dubai Jewellery Group reported that 24K gold rose to Dh526.25 per gram, a gain of Dh8.25 from Thursday's price.
22K gold also increased by Dh7.75, reaching Dh487.25 per gram, while 18K gold reached Dh400.50, up Dh6.25 from the previous day.
The gains come as spot gold rose 2.37% to $4,365.66 an ounce, supported by a softer US dollar and lower oil prices.
Despite the uncertainty surrounding US monetary policy and Middle Eastern tensions, global markets saw gold find support in wider market uncertainty.