Dubai Gold Rate Steady, Buyers Fear Jump to Dh380 Soon

 Photo:Reuters

Gold prices in Dubai are still steady, but many people are worried that the rate might soon go up again. Right now, 22K gold is selling for around Dh263.25 per gram in Dubai, the same as earlier in the week. But gold buyers are being careful, as there is a fear the price might touch Dh380 per gram in the coming months.

This worry is because of changes in the global gold market. International gold prices are close to $2,320 an ounce. Experts say that if gold prices in the world market keep rising, Dubai’s gold rates will also go up. Some people who waited earlier are now rushing to buy before it gets more expensive.

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Jewellery shop owners say they are seeing more walk-in buyers. Many people are not buying big amounts, but they are still picking up small pieces. Some are buying for savings, while others are buying for weddings or gifts.

Shoppers say they are trying to take advantage of the current rate before it increases again. Last month, Dubai gold prices reached Dh280-Dh285 per gram, and people still remember that sudden jump. That’s why there’s fear it might go above Dh300 or even Dh380 if the global market remains high.

Jewellers advise that if you are planning to buy gold, this could be a good time. Waiting too long might mean higher prices later.