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May 27, 2018, 11:08 pm IST
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Good bargains on the cards for gold shoppers

Good bargains on the cards for gold shoppers

 Jun 21, 2017

 Eid shoppers in Dubai may find some bargains in gold purchase if the international market
 
continues the current downward trend.
 
The bullion has recently hit a near five-week low, which has been reflected on the current retail rate.
 
Compared to about two weeks earlier, the current price for gold ornaments is cheaper now by AED 5
 
per gram. Eid being a gifting season, a spurt in purchase is expected during the week prior to the
 
festival. Any drop in price would attract a large volume in sales..
 
The price of 24K gold stood at AED 151.75 per gram as on Tuesday, a lot lower compared to the
 
rates on June 7, when the yellow metal was priced at AED156.50 per gram. However, the
 
downward trend may not continue for long as the US monetary policy is likely to be more tightened
 
in the coming months.


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