Dubai Gold Prices Regain Ground Amid Fed Decision

Dubai's gold market is back in focus as prices for 24K gold rose to Dh487.50 per gram on Thursday, July 30, according to the Dubai Jewellery Group.

This comes after a few days of movement in both directions, with prices standing at Dh487.00 for 24K, Dh451.00 for 22K, and Dh370.50 for 18K on Tuesday, July 28.

International gold prices surged after the US Federal Reserve kept benchmark interest rates unchanged, leading to a stronger bullion market.

The Fed's decision weighed on the US dollar, which fell against the euro, making gold more affordable for buyers using other currencies.