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.
