Time to shop for Dubai gold? Price under Dh200 per gram

The Dubai gold price remained under Dh200 per gram for 22K, 21K and 18K on Sunday (July 10), with experts saying this week has been the best time for gold shopping so far. Since July 6, the Dubai gold price has stayed under Dh200 per gram for 22K, 21K and 18K. this is the first time this year that the gold price dropped to this level. Here are the gold rates per gram for July 10 released by Dubai Jewellery Group 22K: Dh198.25 21K: Dh189.25 18K: Dh162.25 24K: Dh211.25 With Eid Al Adha in the UAE, jewellery retailers have reported an increase in sales as shoppers made gold purchases. Experts say gold prices are not expected to increase as the precious metal remains on course for its biggest weekly loss in eight weeks, with the US dollar remaining close to its 20-year high. “Gold prices are a freefall mode. Softer US yields and limited risk appetite should normally play in favour of gold, but we see the contrary happening,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. “The strength of the US dollar clearly overshadows gold and prevents the yellow metal from gaining at a time it could potentially gain … we could see further losses in the yellow metal in the medium run.” ICA/Expat Media
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