In the United Arab Emirates (UAE), the gold prices plunged nearly three dirhams per gram on Thursday morning after the US Federal Reserve paused rates hikes.
As per the data released by the Dubai Gold & Jewellery Group, the 24-Karat gold was trading at Dh234.25 at the opening of the markets as compared to last night’s close of Dh237.0 per gram, down Dh2.75 per gram.
Similarly, 22K, 21K and 18K also opened lower at Dh216.75, Dh209.75 and Dh180.0 per gram respectively.
The drop in prices will boost demand for the precious metal and its jewellery in the UAE.
UAE Gold Rate (AED) on June 15, 2023
Type | Morning | Yesterday |
| Ounce | 7,097.78 | 7,163.84 |
| 24K | 234.25 | 236.25 |
| 22K | 216.75 | 218.75 |
| 21K | 209.75 | 211.75 |
| 18K | 180.00 | 181.50 |
Source: Dubai Gold & Jewellery Group
UAE Gold Rate (AED) in Past 10 Days
Date | Ounce | 24K | 22K | 21K | 18K |
| June 15 | 7,097.78 | 246.00 | 216.75 | 209.75 | 180.00 |
| June 14 | 7,182.19 | 237.00 | 219.50 | 212.25 | 182.00 |
| June 13 | 7,182.19 | 237.00 | 219.50 | 212.25 | 182.00 |
| June 12 | 7,167.51 | 236.50 | 219.00 | 212.00 | 181.75 |
| June 11 | 7,200.54 | 237.50 | 220.00 | 213.00 | 182.50 |
| June 10 | 7,200.54 | 237.50 | 220.00 | 213.00 | 182.50 |
| June 09 | 7,204.21 | 237.75 | 220.00 | 213.00 | 182.50 |
| June 08 | 7,226.23 | 238.50 | 220.75 | 213.75 | 183.25 |
| June 07 | 7,145.49 | 235.75 | 218.25 | 211.25 | 181.00 |
| June 06 | 7,185.86 | 237.00 | 219.50 | 212.50 | 182.00 |
