Commodities
Dubai Gold Prices Soar to Near-August High
Dubai's gold prices have risen sharply in August, with 24K gold reaching nearly its highest level of Dh533.25 on August 12.
The price of 24K gold has climbed to Dh531 per gram as of Monday morning, up from Dh527.50 the day before and a significant increase since August 1 when it stood at Dh487.25.
This represents a gain of nearly 9% for 24K gold over the past two weeks, with prices moving quickly this month to reach their current level.
Internationally, gold has also been on the rise, trading near $4,400 an ounce after a two-week advance, driven by weaker US retail sales data and a decline in consumer sentiment.