emirates7 - Gold prices rebounded in Dubai on Monday morning, climbing by Dh3 per gram in the lead-up to the Eid holidays.
The price of 24K gold increased to Dh399.25 per gram, up from Dh396.25 at the weekend close. Other gold variants also saw an uptick, with 22K opening at Dh369.75, 21K at Dh354.5, and 18K at Dh303.75 per gram.
In the UAE, both public and private sector workers will enjoy a four-day break starting Thursday. Gold jewellery sales typically surge around major celebrations like Eid Al Adha.
On the global front, spot gold was trading at $3,318.14 per ounce, a 0.84 per cent rise. The increase comes amid heightened tensions from the ongoing Russia-Ukraine conflict and a new threat by US President Donald Trump to double tariffs on steel and aluminium imports, which has driven investors toward safe-haven assets like gold. The European Commission responded by warning it is ready to retaliate if the tariff hike goes into effect.
The price of 24K gold increased to Dh399.25 per gram, up from Dh396.25 at the weekend close. Other gold variants also saw an uptick, with 22K opening at Dh369.75, 21K at Dh354.5, and 18K at Dh303.75 per gram.
In the UAE, both public and private sector workers will enjoy a four-day break starting Thursday. Gold jewellery sales typically surge around major celebrations like Eid Al Adha.
On the global front, spot gold was trading at $3,318.14 per ounce, a 0.84 per cent rise. The increase comes amid heightened tensions from the ongoing Russia-Ukraine conflict and a new threat by US President Donald Trump to double tariffs on steel and aluminium imports, which has driven investors toward safe-haven assets like gold. The European Commission responded by warning it is ready to retaliate if the tariff hike goes into effect.