• Menu
  • Menu
  • Business
  • Subscribe now
    Digital subscription Print subscription
  • Logout
Digital subscription
Print subscription
Trending
UAE holidays 2022 Golf in UAE Gratuity Calculator Qatar World Cup 2022
  • Latest News
  • UAE
    • Crime
    • Education
    • Environment
    • Government
    • Health
      • Why Worry
    • Transport
    • Science
    • Weather
    • Ask the Law
    • Reader Complaint
    • UAE's Hope Probe
  • Living In UAE
    • Visa+Immigration
    • Housing
    • Phone+Internet
    • Banking
    • Transport
    • Health
    • Education
    • Relocate
    • Ask Us
    • Safety+Security
  • UAE Success Stories
  • Business
    • Banking
    • Aviation
    • Property
    • Energy
    • Analysis
    • Tourism
    • Markets
    • Retail
    • Corporate News
  • Best Buys
    • Electronics
    • Home and Kitchen
    • Offers
    • Consumables
    • Lifestyle
  • Your Money
    • Saving and Investment
    • Budget Living
    • Taxation
    • Expert Columns
    • Community Tips
    • Cryptocurrency
  • Food
    • Cooking and Cuisines
    • Guide to Cooking
    • Videos
  • Friday
    • Beauty
    • Wellbeing
    • Art & People
    • Home
  • Games
    • Daily Crossword
    • Sudoku
    • Word Search
    • Spell It
    • Play
  • Parenting
    • Pregnancy & Baby
    • Learning & Play
    • Child Health
    • For Mums & Dads
    • Ask Us
    • Games
  • Discounts
  • Qatar World Cup 2022
    • Teams
    • Travel
    • News & Views
  • Play Games
  • Magical Dubai
    • Dubai Life
    • Live the Luxury
    • Culture and History
    • Adventure
    • Staying Connected
  • World
    • Gulf
      • Bahrain
      • Kuwait
      • Oman
      • Qatar
      • Saudi
      • Yemen
      • Games
    • Mena
    • Europe
    • Africa
    • Americas
    • Asia
      • India
      • Pakistan
      • Philippines
    • Oceania
    • Offbeat
    • Coronavirus
    • Infographics
    • Special Reports
    • Corrections
  • Special Reports
  • Photos
    • News
    • Entertainment
    • Readers' Photos
    • Lifestyle
    • Business
    • Sports
  • Opinion
    • Op-Eds
    • Letters
    • From the Editors
  • Sport
    • UAE Sport
    • Horse Racing
      • Dubai World Cup
    • Cricket
      • IPL
        • Chennai
        • Delhi
        • Punjab
        • Kolkata
        • Mumbai
        • Rajasthan
        • Bangalore
        • Hyderabad
        • Gujarat
        • Lucknow
        • Live Scores
        • Point Table
        • Top Scorers
      • ICC
    • Motorsport
    • Football
    • Tennis
    • Rugby
    • Golf in UAE
      • UAE
      • World
      • Photos & Videos
      • Course Reviews
      • Learn to Play
      • Gear
  • Entertainment
    • Hollywood
    • Bollywood
    • Pakistani Cinema
    • South Indian
    • Arab Celebs
    • Music
    • TV
    • Books
    • Theatre
    • Arts+Culture
  • Expo 2020
    • News
    • Photos
    • Pavilions
    • Visit the Expo
    • Experience the UAE
    • Entertainment
    • Videos
  • Going Out
  • Auto
    • News
    • Test Drives
    • Car Culture
    • Auto Care
  • Lifestyle
    • Health+Fitness
    • Community
    • Fashion
  • GN Reach
  • Jobs
  • Tech
    • Electronics
    • Gaming
    • Media
  • Videos
    • How-To
    • Best Of Bollywood
    • News
    • Entertainment
    • Business
    • Sport
    • Community
    • Technology
  • Travel
  • GN Focus
    • Special Features
  • Mind Your Migraine
  • 50 MENA Leaders
  • The Kurator
    • Share
    • Dare
    • Flair
  • Bayat Chapters
  • Gold-Forex
  • Gratuity Calculator
  • Notifications
  • Gold/Forex
  • Prayer Times
  • Cinema Listing
  • Newsletters
  • About Gulf News
  • Contact us
  • Work with us
  • Terms and Conditions
  • Privacy Policy
  • Gulf News store
  • Advertise with us
  • Reach by GN
  • GN Focus
  • Gulf News epaper
  • Sitemap
  • Have your say
  • © Al Nisr Publishing LLC 2022. All rights reserved.
    Dubai Gold Rate drops Dh8 a gram in one day - and shoppers get interested

    Photos

    Login / Sign Up
    Logout
    Thursday, August 11, 2022
    Gold / Forex

    Photos Business

    • News
    • Entertainment
    • Readers' Photos
    • Lifestyle
    • Business
    • Sports
    All Sections

    Dubai Gold Rate drops Dh8 a gram in one day - and shoppers get interested

    Will gold prices remain under pressure and drop below Dh200/gm is million dollar question


    Published:  June 18, 2021 09:19 Last updated:  June 18, 2021 10:09 Manoj Nair, Business Editor

    1 of 10
    Stock - Dubai Gold
    Dubai: UAE gold shoppers responded immediately to prices dropping below $1,800 an ounce on Thursday (June 17), and with the Dubai Gold Rate sliding by nearly Dh8 a gram for 22K. It is the first time since end March that gold has come under pressure. Image Credit: Virendra Saklani/Gulf News
    2 of 10
    Stock - Dubai Gold
    “There was a 10 per cent increase in shopper numbers on Thursday from a week ago – and all of it had to do with the all-day decline in gold prices,” said Abdul Salam K.P., Executive Director at Malabar Gold & Diamonds. Image Credit: Virendra Saklani/Gulf News
    3 of 10
    Stock - Dubai Gold
    Others in the local gold and jewellery market are equally hopeful that shoppers will return if gold remains in the sub-$1,800 levels, and could rise sharply if the local rate declines to Dh190-Dh195 a gram. Image Credit: Virendra Saklani/Gulf News
    4 of 10
    Stock - Dubai Gold
    “Typically, UAE gold shoppers check whether prices will drop further for a second consecutive day before deciding whether to buy then or later,” said a retailer. “This time, if Friday sees more declines to $1,770-$1,775 levels, we can expect a decent turnout for the weekend.” Image Credit: Virendra Saklani/Gulf News
    5 of 10
    Stock - Dubai Gold
    Gold is now at $1,785, while the Dubai Gold Rate is Dh203 a gram. Early on Friday, it was showing some strength, gaining $8 an ounce in the international markets. Image Credit: Virendra Saklani/Gulf News
    6 of 10
    Stock - Dubai Gold
    The immediate reason for Thursday’s drop was the US move to increase its interest rate, and which led the dollar to strengthen. Higher interest rates are always a signal for global investors to move away from ‘safe haven’ assets such as gold and chase better returns elsewhere. Image Credit: Virendra Saklani/Gulf News
    7 of 10
    Stock - Dubai Gold 1
    The lowest Dubai Gold Rate so far this year has been the Dh191.75 a gram on March 31. That was also the last time UAE gold shoppers engaged in some fairly decent buying activity. Image Credit: Virendra Saklani/Gulf News
    8 of 10
    Stock - Dubai Gold
    But the times are such that buying patterns are changing. “In past years, summer would always see increased activity before Subcontinent residents headed for their vacations,” said Salam. “This year – and in 2020 too – a lot of them will remain in the UAE because of the COVID-19 related flight situation. Would this prompt them to buy less gold?” Image Credit: Virendra Saklani/Gulf News
    9 of 10
    Stock - Dubai Gold 1
    Should the gold drop continue in coming days, those residents not taking a trip could well use those savings to stock up on gold. A drop to under Dh200 a gram for 22K is what they should be looking for. Image Credit: Virendra Saklani/Gulf News
    10 of 10
    Stock - Dubai Gold 1
    If they get lucky, a drop all the way to Dh190 could also be a possibility. That’s when jewellery retailers will get all the sales sparkle they want. Image Credit: Virendra Saklani/Gulf News

    Trending

    • Latest pictures: How Dubai Hindu temple is taking shape

      Latest pictures: How Dubai Hindu temple is taking shape

    Latest In

    • Action initiated, says SpiceJet on smoking video

      16 minutes ago

    • Mask mandates return in New Delhi as COVID cases rise

      21 minutes ago

    • Nitish Kumar to face Bihar floor test on August 24

      46 minutes ago

    • Brazil oppose replay of abandoned Argentina qualifier

      56 minutes ago

    • Pakistan: Parliament debates resurgence of banned group

      60 minutes ago

    Go back to top
    Network links:
    • Friday
    • Watch Time
    • getthat
    • Jobs
    • Commercial Printing
    • About Gulf News
    • Contact us
    • Work with us
    • Terms and Conditions
    • Privacy Policy
    • Gulf News store
    • Advertise with us
    • Reach by GN
    • GN Focus
    • Gulf News epaper
    • Sitemap
    • Have your say
    Find us on Social
    © Al Nisr Publishing LLC 2022. All rights reserved.
    This website stores cookies on your computer. These cookies are used to improve your experience and provide more personalized service to you. Both on your website and other media. To find out more about the cookies and data we use, please check out our Privacy Policy.
    Share on Facebook
    Share on Twitter
    Share on Whatsapp
    Share on Mail
    Share on LinkedIn
    Close
    Gulf News

    Get Breaking News Alerts From Gulf News

    We’ll send you latest news updates through the day. You can manage them any time by clicking on the notification icon.

    Subscribe No Thanks
    Continue reading Gulf News
    Dear Reader, please register to read gulfnews.com

    Dear Reader,

    This section is about Living in UAE and essential information you cannot live without.

    Register to read and get full access to gulfnews.com

    Create your account
    or login if you already have one
    First name is required.
    Last name is required.
    Please enter a valid email address.
    Password should have minimum 7 characters with at least one letter and number
    Passwords do not match

    By clicking below to sign up, you're agreeing to our Terms of Use and Privacy Policy

    Login your account
    New to Gulf News? Sign up now
    Please enter your email address.
    Please enter your password.

    Forgot password

    or