By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: Today’s Gold Price in the United Arab Emirates: Gold Stabilizes, as per FXStreet Data
Share
Notification Show More
Latest News
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World
Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide
Crypto
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > Forex > Today’s Gold Price in the United Arab Emirates: Gold Stabilizes, as per FXStreet Data
Forex

Today’s Gold Price in the United Arab Emirates: Gold Stabilizes, as per FXStreet Data

News Room
Last updated: 2024/09/27 at 5:11 AM
News Room
Share
3 Min Read
SHARE

Gold prices in the United Arab Emirates remained relatively stable on Friday, with the price for Gold standing at 315.31 United Arab Emirates Dirhams (AED) per gram. This price was only slightly lower compared to the previous day’s price of AED 315.59. Similarly, the price for Gold per tola also saw little change, with the price remaining steady at AED 3,677.75 per tola from AED 3,680.94 per tola the day before.

FXStreet calculates Gold prices in the United Arab Emirates by adapting international prices (USD/AED) to the local currency and measurement units. Prices are updated daily based on market rates taken at the time of publication. It’s important to note that these prices are for reference only, and local rates may vary slightly.

Gold has a long history of being used as a store of value and medium of exchange, in addition to its popular use in jewelry. The precious metal is often considered a safe-haven asset and a good investment during turbulent times. Gold is also viewed as a hedge against inflation and depreciating currencies because it doesn’t rely on any specific issuer or government for its value.

Central banks are among the largest holders of Gold, as they often use the metal to support their currencies during challenging economic conditions. Central banks typically diversify their reserves by adding Gold, which can improve the perceived strength of their economy and currency. In 2022, central banks added a record 1,136 tonnes of Gold worth around $70 billion to their reserves. Emerging economies like China, India, and Turkey are rapidly increasing their Gold reserves as well.

Gold has an inverse correlation with the US Dollar and US Treasuries, both major reserve and safe-haven assets. When the Dollar weakens, Gold prices tend to rise, allowing investors and central banks to diversify their assets during turbulent times. The precious metal is also inversely correlated with risk assets, with a rally in the stock market typically leading to a decrease in Gold prices, while sell-offs in riskier markets favor Gold.

Various factors can influence the price of Gold, including geopolitical instability, fears of a recession, and changes in interest rates. Gold tends to rise during times of low interest rates, as it is a yield-less asset. Additionally, the price of Gold is heavily influenced by the behavior of the US Dollar, as Gold is priced in dollars (XAU/USD). A strong Dollar usually keeps Gold prices in check, while a weaker Dollar tends to push Gold prices higher.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room September 27, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article US Confiscates Crypto Domains in $800M Case, Accuses Russians
Next Article Two restaurants closed in Abu Dhabi for endangering public health
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports June 10, 2025
The Myriad Redefines Student Living for a Mobile, Urban Generation
UAE May 27, 2025
L’Oréal Paris Welcomes Yasmine Sabri as New Brand Ambassador for the Middle East
Lifestyle May 23, 2025
Roland Garros 2025: A New Era of Viewing, A Tribute to Legends, and Moments to Remember
Sports World May 22, 2025

You Might also Like

Forex

Pound Sterling Price Update and Prediction: GBP strengthens as risk sentiment improves

January 6, 2025
Forex

Elliott Wave Technical Analysis of NVIDIA Corp. (NVDA) [Video]

January 6, 2025
Forex

EUR/USD: Is it a Dead Cat Bounce? – OCBC

January 6, 2025
Forex

AUD/JPY maintains gains around 98.50 following PMI data release

January 6, 2025
Forex

NZD/USD edges up to nearly 0.5650 after China’s Caixin Services PMI

January 6, 2025
Forex

Japanese Yen bulls stay on the sidelines as USD/JPY remains steady above the mid-157.00s

January 6, 2025
Forex

Silver Price Prediction: XAG/USD bears in control below $30.00 near 200-day SMA

January 6, 2025
Forex

Gold price drops from multi-week high due to hawkish Fed expectations

January 6, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?