Picture for illustrative purposes only. ARCHIVE

Gold prices dipped in the UAE on Tuesday morning, nearing a two-and-a-half-year low as the US Federal Reserve increased rates to curb the rising inflation. As of 9:13 am, spot gold was trading at $1,631.85 per ounce, down from its low of $1,620.20 on Monday. In the UAE, the 24K gold prices fell to Dh197.75 at the markets opening on Tuesday compared to Dh199.5 at the closing of the markets on Monday. Among the other variants of the precious metals, 22K opened at Dh185.75, 21K at Dh177.25, and 18K at Dh152.0 per gram. BKM/ Expat Media
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