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UAE: Gold prices edge higher in Dubai
Spot gold was up 0.14 per cent to $1,804.35 per ounce as of 9.40am UAE time
Gold prices edged up in the UAE and Asia on Tuesday morning, helped by a softer dollar.
Spot gold was up 0.14 per cent to $1,804.35 per ounce as of 9.40am UAE time.
In the UAE, the 24K gold price was trading at Dh218.75 per gram at the opening of the markets on Tuesday as compared to the previous close of Dh218.0 per gram. Among the other variants of the precious metal, the 22K opened at Dh202.5 per gram, 21K at Dh196.0 and 18K at Dh168.0 per gram.
The dollar index slipped 0.1 per cent, making bullion less expensive for overseas buyers.
The precious metal retailers in Dubai say that gold jewellery buying has surpassed the pre-pandemic level in 2022.
Dubai jewellers said 2022 is closing on a high note on the back of the double-digit growth in the third quarter, and expect this momentum to continue in 2023 as well.
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