Commodities
Dubai Gold Market Holds Steady Amid Global Bullion Price Surge
Dubai's gold market held steady on Friday as global bullion prices climbed to their highest level since June.
The international market was supported by a weaker US dollar and efforts by the US Treasury Department to curb rising long-term bond yields, resulting in a third consecutive weekly gain for gold.
In Dubai, retail gold rates remained unchanged across main jewellery categories. The suggested retail price for 24K gold stood at Dh547 per gram, while 22K gold was priced at Dh506.50 per gram.
Global prices also reflected the upward trend, with spot gold little changed at US$4,514.23 an ounce during early trading. This represents a 3.2 percent increase since the start of the week.