Dubai's Gold Rush: Price Soars to Record High Before Plunging

Dubai: The Dubai Gold Rate reached an all-time high yesterday evening but subsequently dropped slightly. However, the fluctuation was minimal since gold remains highly volatile.

Yesterday, a gram of 22-carat gold was priced at Dh381.75, surpassing the previous record by 25 fils, a level that had only been reached on April 21st. (For reference, a gram of 24-carat gold stood at Dh412.5 last night.)

However, today, the local gold rate has dropped somewhat from earlier peaks and stands at Dh375.25 for one type, with 24-carat gold priced at Dh405.25.