24K gold price in Dubai hits record Dh313/gram, driven by US Fed rate cut expectations and weakening dollar.

Gold prices in Dubai hit a record high of Dh313 per gram for 24K gold, rising by Dh0.75 from the previous weekend. The increase is driven by trader expectations of cautious interest rate cuts from the US Federal Reserve and a weakening dollar. The UAE remains a key player in the global gold market, with demand largely fueled by jewelry purchases, though challenges include geopolitical factors and a shift to digital investments.

September 16, 2024
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