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Commodities

Dubai Gold Prices Surge to Dh514 per Gram Amid Weaker Oil Prices

Guavy AI Editorial Team
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Oil Gold
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Dubai's gold prices continued their upward trend on Friday morning, reaching Dh514 per gram for 24K gold, according to Dubai Jewellery Group data.

This marks the best week since January for precious metal prices in the UAE, driven by weaker oil prices.

The 22K, 21K, and 18K variants of gold were also trading higher at Dh476.0, Dh456.25, and Dh391.25 per gram, respectively.

Naeem Aslam, CIO at Zaye Capital Markets, noted that spot gold is trading near $4,265 per ounce as investors assess the interaction between labour-market weakness, inflation pressure, and geopolitical risk.

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