Gold rate in UAE continued to drop and reached the lowest level during the current year registered a decline at around 1.11% over the last ten days.
Traders said the market: that gold reached the stimulating rates on investment in this sector attributing the decline to external factors, most notably the sharp rise in the US dollar in recent weeks internal and the other related to the freezing of many investors to their shares and not doing Ptsielha at the current stage in the light of successive decline in most local stock prices, making the bulk of the stock owners prefer to keep them reluctant to sell in order to avoid losses.
According to the analysis of «economic statement» the average price of gold by the caliber gram gold price has dropped by about 24 caliber -1.53 AED during the last ten days from AED 138.01 on the eighth of March to the end of AED 136.48 yesterday.
With the price of gold fell gram 22 carat about – AED 1.41 from AED 126.51 to AED 125.1 grams and the price fell by about 21 carat gold – AED 1.34 from AED 120.76 to AED 119.42. Gram gold price also fell by about 18 carat – AED 1.15 from AED 103.51 to 102.36 dirhams.
The analysis showed that the price of 14 carat gold grams fell in local markets during the last ten days of about 0.9 dirhams from 80.51 dirhams on the eighth of March to AED 79.61 yesterday in gram gold price fell by about 10 carats AED 0.63 from AED 57.5 to AED 56.87.
The average price of an ounce of gold at the end of yesterday’s trading 4.25 thousand dirhams while the average price of «pounds of gold stood» AED 955.36 The average price of a kilo of gold locally 136.48 thousand dirhams.