Picture for illustrative purposes only. ARCHIVE

Gold prices in Dubai have reached a new record high, driven by global market fluctuations. On Monday (September 23), 24K gold was priced at Dh318.50 per gram, marking an increase of Dh1 at the opening of the markets. Throughout the day, prices fluctuated, with 24K falling slightly to Dh317.25 per gram by 3pm. Other gold variants also experienced price surges. The price of 22K gold rose to Dh294.75 per gram, while 21K and 18K variants were priced at Dh285.50 and Dh244.50 per gram, respectively. These prices later dipped by afternoon, as 22K gold dropped to Dh293.75, 21K to Dh284.25, and 18K to Dh243.75. Gold prices are updated twice daily in Dubai, with the Dubai Jewellery Group publishing suggested retail prices at 10:30am and at 3pm based on the London Bullion Market Association (LBMA) rates. This continuous price fluctuation reflects the broader economic climate and investor demand for gold as a safe-haven asset. ICA/Expat Media
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