November 23, 2021

Gold faces decrease in value per gram globally

Gold is a very precious metal. It is a source of value in many ways and is also used for adornment purposes. In the UAE gold prices have fallen by 6 dirhams per gram in just a week.

This change has been observed after the dollar hopped on betting a fast interest rate increase after US President Joe Biden backed Federal Reserve Chair Jerome Powell for a second term.

The gold prices (per gram) in the UAE as of Tuesday afternoon are as follows
- 18K: 167.50 Dirhams
- 21K: 195.25 Dirhams
- 22K: 204.75 Dirhams
- 24K: 218.00 Dirhams