Stock Gold Dubai
Gold Souk in Deira Image Credit: Clint Egbert/Gulf News

Dubai: The short-term outlook for gold prices has grown increasingly positive with prices currently hovering near the $1,800 (Dh6,611) levels, which transalates to around Dh215.25 for 24 carat gold in the UAE.

Prices may occasionally drop to $1,750 (Dh6,428) - or the Dh190s range every now then - but, that is the case only for now. Analysis shows that in the next couple of months, prices are expected to go even further upwards (beyond the current $1,800-level), considering the external factors that keep a lid on prices have eased in recent days.

So while buyers should make use of the current levels before the yellow metal gets more expensive, the short and long term price trends are not good news for buyers. However, for those invested in the metal and looking to sell and pocket a profit, these price trends are beneficial.