Vijay Valecha, Special to Khaleej Times May 17, 2021
Gold prices jumped to a three-month high at the opening of the trade on Monday due to a dip in the dollar and concerns about global inflation.
Spot gold price jumped $10.2 an ounce or 0.55 per cent to $1,853.8 per ounce by 9.20am UAE time. Gold prices rebounded from mid-week lows of $1,808 to end the week modestly higher at $1,843.
In the UAE, gold prices gained more than one dirham per gram on Monday.
Dubai Gold and Jewellery Group data showed 24K retail gold price rising Dh1.25 to Dh224.5 per gram from its previous close of Dh223.25. Meanwhile, the price of other variants of the precious metals also increased between Dh1 and Dh1.25 per gram.
Data showed that 22K gold retail price stood at Dh210.75, 21K at Dh201.25, and 18K at Dh172.5 per gram on Monday morning.