UAE Gold Prices Hold Steady Amid Global Market Turbulence

The gold price in United Arab Emirates remained relatively stable on Tuesday, according to data from FXStreet. The price for gold stood at 512.76 UAE Dirhams (AED) per gram, which is roughly equivalent to the previous day's price of AED 512.84. In terms of tolas, the price was steady at AED 5,980.74, slightly lower than the AED 5,981.63 recorded on Monday.

Gold prices in UAE are calculated by adapting international prices (USD/AED) to the local currency and measurement units, with FXStreet updating prices daily based on market rates. The precious metal is widely regarded as a safe-haven asset, often sought after during turbulent times due to its lack of correlation with specific issuers or governments.

Central banks are among the largest gold holders, with many purchasing the metal to support their currencies and demonstrate economic strength. In 2022, central banks added 1,136 tonnes of gold worth around $70 billion to their reserves, the highest yearly purchase since records began.