Gold Prices Continue to Fall, 24K Drops Below Dh203.5 in Dubai


Gold prices in Dubai and worldwide continued to decline on Wednesday, losing nearly two per cent, as investors remained focused on high-yield US Treasury.

In Dubai, 24K retail gold price fell from Dh207 per gram on Tuesday morning to Dh203.50 on Wednesday morning; while 22K price dropped from Dh194.5 to Dh191.25; 21K price slipped from Dh185.5 to Dh182.5; and 21K price hit Dh156.25 today as against Dh159 yesterday.

As a result of drop in prices of precious metals, UAE residents — especially Indian and Chinse expatriates — have been rushing to buying gold.