Gold prices in the UAE headed farther south on Thursday as the bullion continued to take a beating from a strong US dollar, thus providing more opportunities for jewellery fans to score some bargains.

The price of 24-karat (24K) gold dipped to Dh145.75 per gram as of 4:15pm, cheaper by 1.25 fils per gram from Tuesday’s closing rate.

Other jewellery pieces are likewise retailing at a more affordable rate, with 22K now priced at Dh136.75 per gram, 21K at Dh130.50 and 18K at Dh112 per gram.

Spot gold stood at $1,202.96 an ounce as of 1:55pm, down by 0.3 per cent, according to Reuters. US gold futures also shed 0.2 per cent to $1,209 an ounce.

 

Source : Gulf news