UAE Gold Prices Reach New Highs Amid Global Rebound

Gold prices in the UAE have continued their upward trend, reaching Dh532 per gram for 24-karat gold as of September 3. This marks an increase of Dh10 from the start of the month, with prices rising steadily since the beginning of September.

The 22-karat variety also saw a gain, increasing to Dh492.50 from Dh489.25 in just one day, while the 21-karat and 18-karat rates rose to Dh472.25 and Dh404.75 respectively.

This increase comes as gold prices globally have rebounded above $4,400 per ounce after falling to around $4,285. Market analyst Linh Tran attributes this recovery to a combination of factors, including dip-buying demand, easing yields, and hedging against geopolitical uncertainty.