Dubai: After rebounding from a five-year low in July, gold prices moved further up on Friday, surging to the highest in six weeks at $1,168.32 an ounce.
As of 11am on Sunday, Dubai's gold prices per gram remained steady at Dh140.25 for 24K, Dh133.25 for 22K and Dh127.75 for 21K. Prices of 18K gold stood at Dh110.50 and ten tola (TT) bar at Dh16,075.
The yellow metal’s global prices advanced last week after stock prices tumbled around the world and concerns about the global growth and economy in China grew further.
Some analysts are still banking on another decline in gold prices. Prices will likely go down if there is a massive and very quick interest rate increase in the United States or some positive news on the economy.
For more details on the latest gold prices, click here.
