Dubai gold prices plunge by over Dh10 per gram in 24 hours

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Gold prices in Dubai fell by more than Dh10 per gram in the last 24 hours, with the precious metal falling further at the opening of markets on Tuesday (April 23).

Data from Dubai Jewellery Group showed that 24k gold fell by Dh4 per gram trade at Dh279.25 per gram on Tuesday, compared to Dh283.25 per gram on Monday.

On Monday, 24k gold also dropped by Dh6.26 per gram, taking the total drop in gold price to Dh10.26 per gram since Monday morning.

On Tuesday morning, 22k gold was priced at Dh258.5 per gram while the price for 21k gold stood at Dh250.25 per gram. The popular 18k gold was being sold for Dh214.5 per gram.

The Dubai Jewellery Group publishes the suggested retail gold jewellery rate three times daily: at 9am, 1:30pm and 6pm. Prices are issued in dirham for each gram at retail level in concurrence with fluctuations in the international bullion market.

The rates are displayed in electronic boards at member stores and are issued under the guidance of the Dubai Commercial Compliance & Consumer Protection Department to ensure uniformity and transparency in the retail gold jewellery pricing across Dubai. ICA/Expat Media

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