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Commodities

UAE Gold Prices Surge Amid Global Market Volatility

Guavy AI Editorial Team
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Gold
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Gold prices in the United Arab Emirates (UAE) rose on Wednesday, according to data compiled by FXStreet. The price of gold stood at AED 510.20 per gram, up from Tuesday's rate of AED 506.99. Additionally, the price for gold increased to AED 5,950.96 per tola from AED 5,913.41 a day earlier.

The prices are calculated by FXStreet based on international market rates and are adapted to local currency units. Central banks play a significant role in gold reserves, with many countries adding to their holdings as a safe-haven asset during turbulent times. In 2022, central banks added 1,136 tonnes of gold worth around $70 billion to their reserves.

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