Gold prices dropped in the United Arab Emirates on Monday to AED 519.25 per gram, down from AED 523.16 on Friday, according to FXStreet's data.
The price for Gold fell further to AED 6,056.43 per tola from AED 6,102.06 on the same day.
Globally, central banks have been increasing their gold reserves, with a record 1,136 tonnes added in 2022 worth approximately $70 billion, as stated by the World Gold Council.
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