Dubai Gold Rates Steady for Eid Al Adha: Is It Enough?
As Eid Al Adha approaches, gold prices in Dubai remain stable, ranging from Dh365 to Dh369 per gram for 22K gold, currently standing at Dh367.
Shoppers are keenly watching the market, hoping for a potential drop in prices over the next few days.
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Promotions backed by the Gold and Jewellery Group will run until June 9, featuring popular schemes like ‘half-back’ offers and gold exchange options.
Despite the promotions, many shoppers have delayed purchases, anticipating lower prices.
Retailers note that prices have not dipped below Dh360, contrary to expectations for a better deal during the holiday.
Compared to late May, the current rate is slightly advantageous, but shoppers reflecting on prices from mid-May see a significant increase of Dh9.5 per gram.
Gold bullion remains steady, hovering just above $3,000 per ounce, with minimal fluctuation over the past month. This stability is notable considering earlier price volatility earlier this year.
As the holiday approaches, the performance of gold sales will likely depend on consumer sentiment regarding current pricing.
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