The UAE announced a rise in gold prices today to the highest level in October

According to daily trading prices, gold prices in the Emirates vary from one day to another. Sometimes gold prices in the Emirates witness a slight increase or decrease, but today gold prices have increased significantly, increasing by about $19 in spot transactions.

Today, the UAE announced that gold prices had reached their highest levels since early October, with spot transactions achieving gains of

approximately $19, and the price of gold rose by 1.03%, or $19.01, to reach $1,851.46 per ounce by 9:14 AM UAE time today.
The price of gold for December 2023 delivery rose by $19.85, or 1.08%, to reach $1,865.05 per ounce.
The 24-karat gold recorded 221.28 dirhams.

The 21-karat gold recorded 193.62 dirhams.
The 18-karat gold recorded 165.96 dirhams.
The 14-karat gold recorded 129.08 dirhams.

Today's gold price record in the United Arab Emirates against the dollar:

24-karat gold recorded $60.24 US dollars.
The 21-karat gold record was $52.71.
The 18-karat gold record was $45.18.
14 karat gold recorded $ 35.14.

In this context, the purity of gold is often expressed in karats, and gold prices in the Emirates and other countries are proportional to the weight of the karat. Note that 24-karat gold, which is often known as pure gold, is the purest form of gold and can be purchased in different forms (coins, bullion, etc.). However, gold chains, bracelets, and rings are usually made of 22-karat gold, while 18-karat gold is used in the manufacture of rings studded with diamonds and other precious stones, which has a significant impact on gold prices in the Emirates.

The manufacturing price of gold in the UAE market:

The price of gold is determined on a global scale and is not subject to manipulation, but the cost of workmanship and metal formation is taken into account in the final cost. The price of workmanship in the markets ranges from 15 to 45 dirhams per gram, and this depends on a number of factors such as the quality of the gold used, the reputation of the manufacturer, the accuracy of the work, and the degree of bargaining. Between the buyer and the merchant.

Read also: Urgent: Nationalization of 14 job fields in the UAE

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