Dubai Gold Rates Surge: Shoppers Advised to ‘Wait’ Before Buying

Dubai’s gold prices have recently experienced significant volatility, with a notable increase of Dh11.5 in just 24 hours.

The current price for 22K gold now stands at Dh376.5 per gram, while 24K gold has risen to Dh406.75. Jewelers are advising shoppers to “just wait,” suggesting that unless there is a compelling reason to purchase, it may be wise to hold off.

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The recent price fluctuations are attributed to renewed concerns over U.S.-China trade tensions, which have raised fears about inflation and potential interest rate changes by the Federal Reserve.

Retailers recommend that shoppers looking to make purchases for upcoming celebrations, such as Eid Al Adha, should seek out verifiable discounts on making charges or consider diamond jewelry, which is less affected by price swings.

For those not influenced by geopolitical factors, waiting for potential price drops below Dh370 per gram could be beneficial.

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