Gold prices in UAE drop by up to AED 20.50 per gram, fuelling jewellery and bullion demand
Gold prices in the UAE have declined by as much as AED 20.50 per gram, triggering a surge in demand for both jewellery and bullion, retailers reported on Monday.
Strongest weekly drop in months
The reduction in prices represents the largest weekly fall in nearly four months, a decline that has spurred buying activity across local markets, according to gold and jewellery traders. The sharp dip has attracted customers seeking both adornment and investment.
Popular denominations and weights
Retailers noted that 18-karat jewellery, a common choice for daily wear, along with 20-gram and 50-gram bullion bars, have seen particularly strong interest. Buyers are taking advantage of the lower rates to purchase gold in various forms and weights.
