Suspense crime, Digital Desk : For those celebrating Eid al-Adha in Dubai or looking to invest in precious metals, the festive season has brought some welcome news. Gold prices in the United Arab Emirates (UAE) have seen a noticeable dip, creating a favorable market for buyers during the holiday period.

This timely price drop aligns with the tradition of purchasing gold for festivals like Eid, making it an attractive moment for both residents and tourists to invest. The decline reflects broader trends in the international market, influenced by factors such as the US Federal Reserve’s recent indications that it may hold interest rates steady for longer than anticipated. When interest rates are high, non-yielding assets like gold can become less attractive to some investors, often leading to a slight price correction.

Here are the current gold rates in Dubai, providing a great opportunity for festive shopping:

24 Carat Gold: The price for the purest form of gold is currently trading at 270.50 AED per gram. For context for Indian buyers, this is approximately ₹6,155.

22 Carat Gold: Ideal for jewelry, 22K gold is priced at 250.50 AED per gram, which translates to about ₹5,699.

18 Carat Gold: This popular option for intricate jewelry designs is available for 209.00 AED per gram, or roughly ₹4,755.

Dubai, known globally as the “City of Gold,” is a major hub for gold trading and jewelry shopping. The lower prices during the Eid al-Adha celebrations offer a significant advantage for consumers looking to buy gifts or make personal investments. This combination of a major cultural festival and softer international gold prices has created a perfect storm for bargain hunters in one of the world’s most famous gold markets.

Read More: Eid al-Adha Surprise: Gold Prices Dip in Dubai, Offering a Golden Opportunity for Shoppers