Vijay Valecha , Special to Khaleej Times June 20, 2021
Gold prices in Dubai are expected to go down further this week following a tumultuous week when the precious metal fell nearly six per cent, its biggest loss in 15 months.
According to Dubai Gold and Jewellery Group data, 24K last closed at Dh213.75 per gram; 22K at Dh200.75; 21K at Dh191.5; and 18K at Dh164.25.
Spot gold price ended on Friday at $1,764.31, down 0.7 per cent.
The precious metal was heavily weighed down by the strengthening of the US dollar and surprisingly hawkish tone from the Federal Reserve. The Dollar Index posted one of its best weeks in several months, gaining two per cent last week.