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    UAE: 22K gold prices lower by Dh6 per gram in one week

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    Wednesday, May 25, 2022
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    UAE: 22K gold prices lower by Dh6 per gram in one week

    The ounce rate for gold has dropped below $1,800 as of Tuesday


    Published:  November 23, 2021 12:40 Last updated:  November 23, 2021 14:14 Dona Cherian, Assistant Online Editor  and  Inputs from Reuters

    1 of 6
    A saleswoman selects gold necklaces in a jewellery showroom in India
    Gold prices are currently at a two-week low globally. In the UAE on Tuesday afternoon, 22K gold was priced at Dh204.75 per gram while 24K gold was priced at Dh218 per gram. Image Credit: Reuters
    2 of 6
    STOCK Dubai gold shopping
    The prices of the yellow metal dipped as the dollar jumped on bets for quicker interest rate increases after US President Joe Biden backed Federal Reserve Chair Jerome Powell for a second term. Image Credit: Antonin Kelian Kallouche/Gulf News
    3 of 6
    Gold stock shopping Dubai
    Investors also kept tabs on rising COVID-19 cases in parts of Europe which prompted restrictions. Image Credit: Antonin Kelian Kallouche/Gulf News
    4 of 6
    Gold shopping Dubai stock
    Experts opined to media that gold's fall was more of a 'knee-jerk' reaction to the dollar and that the outlook was still bullish. Image Credit: Antonin Kelian Kallouche/Gulf News
    5 of 6
    STOCK Dubai gold shopping
    Technically for gold, "$1,780 on the downside should be well defended and on the upside we need to see a sustainable close above $1,830-1,850 for its bullish momentum to resume," Harshal Barot, a senior research consultant for South Asia at Metals Focus told Reuters. Image Credit: Ahmed Ramzan/Gulf News
    6 of 6
    STOCK Dubai gold shopping
    Gold prices (per gram) in the UAE as of Tuesday afternoon are - 18K: Dh167.50; 21K: Dh195.25; 22K: Dh204.75 and 24K: Dh218.00 Image Credit: Antonin Kelian Kallouche/Gulf News

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