Gold prices were trading at near a 2-1/2-year low on Monday, pulled down by a firmer US dollar and major central banks adopting an aggressive stance on interest rates to tame inflation.
Spot gold was down 0.41 per cent at $1,637.35 per ounce, as of 9.25 am UAE time. Prices fell as much as one per cent earlier in the session to hit $1,626.41, their lowest level since April 2020.
In the UAE, 24K gold price fell one dirham to Dh198.25 per gram at the opening of the markets on Monday. Similarly, 22K, 21K and 18K prices opened lower at Dh186.25, Dh177.75 and Dh152.25 per gram, respectively.Source: