Gold prices in Dubai saw a slight dip as the markets opened on Monday, marking the first trading session of the week.
According to the Dubai Jewellery Group, the following rates were recorded:
- 24K gold: AED319.25 per gram, down from AED320.0 over the weekend.
- 22K gold: AED295.5 per gram, compared to AED296.5 at the previous close.
- 21K gold: AED286.0 per gram.
- 18K gold: AED245.25 per gram.
Global Market Trends
On the global stage, spot gold traded at $2,633.5 per ounce, reflecting a decline of 0.27% in early trade.
Gold’s price movement aligns with broader trends, testing its 50-day moving average. Analysts noted that in November, gold dipped below this average, disrupting its upward trajectory after a year-long rally of more than 50%. The break initiated a consolidation phase that continues to influence market sentiment.
Investors are closely monitoring these fluctuations as gold remains sensitive to global economic developments and shifting market dynamics.
