At the Gold Souk in Dubai. EXPAT MEDIA

The price of gold in the UAE continued its slight increase on Thursday (October 5), with analysts expecting prices to rise towards record highs in 2024. In the UAE, the price of 24k gold was set Dh220.75 per gram on Thursday, compared to Dh220.50 on Wednesday. Meanwhile, 22k gold sold for Dh204.50 per gram, 21k gold sold for Dh198 per gram while 18k gold opened at Dh169.75 per gram. In the global market, the price of gold edged higher on Thursday, with experts saying it is set to end its losing streak. Spot gold rose 0.3 per cent to $1,826.49 per ounce, attempting a rebound from its weakest levels since March. The lowest rate for gold in the UAE was Dh203 per gram for 22k gold in late February. In 2024, multiple research agencies forecast gold prices rising by nearly $200 (Dh734) per ounce or roughly Dh50 more per gram. ICA/Expat Media
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