Abu Dhabi: Gold prices in the United Arab Emirates (UAE) on Saturday morning, September 9, dropped Dirhams three per gram this week and are expected to witness a further decline in the coming weeks.
In UAE, 24-carat gold price opened at Dirhams 232.5 per gram on Saturday as compared to Monday, September 4, when the market opened at 235.5 dirhams per gram.
While 22, 21, and 18 carats were priced at Dirhams 215.25, Dirhams 208.25, and Dirhams 178.5 per gram, respectively, at 9 am UAE time.
“Gold prices remained under pressure and could continue to see a decline as traders take US economic data into account, as well as the changing expectations around US monetary policy,” Chief executive officer at DHF Capital, Bas Kooijman, was quoted as saying by Khaleej Times.
