Why Are Dubai Gold Prices Dropping Ahead of Akshaya Tritiya?
Dubai’s gold prices are experiencing another decline just in time for the upcoming Akshaya Tritiya on April 30. Currently, the price for 22K gold stands at Dh367 per gram, while 24K gold is priced at Dh396.25 per gram.
Analysts predict further decreases of Dh5 to Dh10 in the next 24 to 48 hours, making this an opportune time for shoppers.
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These prices represent the lowest levels seen in the past week, prompting excitement among buyers who are eager to take advantage of the favorable market conditions.
Many shoppers have already pre-booked purchases to secure lower rates ahead of the festival.
Retailers are also responding to the demand by reducing making charges, with some offering discounts of up to 50% or even waiving charges entirely on gold coin purchases.
This combination of lower prices and promotions is expected to boost consumer interest ahead of the Indian gold buying festival.
In the global market, bullion prices have decreased to $3,280 per ounce, which further enhances the appeal for local buyers.
As shoppers prepare for Akshaya Tritiya, the current price drop is seen as a significant advantage for those looking to invest in gold.
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