Gold prices in Dubai continued to slide for the second consecutive weekend, with 24-karat gold staying below AED 500 per gram, signaling stability after weeks of volatility.
As of this weekend, 24K gold is being sold at AED 482 per gram, slightly higher than its brief dip to AED 475.25 earlier in the week. Meanwhile, 22K gold is trading at AED 446.25 per gram, showing a minor recovery from AED 440 recorded on Thursday.
On the global market, gold is holding steady at around $4,000 per ounce (approximately AED 14,700) following the U.S. Federal Reserve’s second interest rate cut of the year.
Experts believe that 24K gold will likely remain below the AED 500 mark in the near term, but a sharp decline is not expected. However, if investors begin profit-taking or the U.S. dollar strengthens, gold prices could see a temporary dip, creating a buying opportunity for jewelry consumers before the year ends.
