As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae
Other karats are also available at bargain prices – 22K at Dh137.75, 21K gold at Dh131.50 and 18K gold at Dh112.75 per gram. You will be able to buy those kind of gold online on business24-7.ae
When asked to speculate on the reasons behind these circumstances, Valecha pointed to a bull equities market and rising interest rates among the forces pushing investors to other assets.
Valecha also reminded investors to bare in mind that August and September, as well as the other remaining months of the year, are traditionally strong months for gold and other precious metals, highlighting an historical rise of 4.1% on average.