In the local market, the gold price in the UAE remained stable, with the 18K gold gram priced at approximately 373.25 UAE Dirhams.

Here are the updated prices for all carats, along with factors influencing market movements.

• 24K recorded at 490.50 AED
• 22K recorded at 374.50 AED
• 21K recorded at 429.75 AED
• 18K recorded at 373.25 AED
• 14K recorded at 238.00 AED
• 12K recorded at 204.00 AED
• Ounce at 12,581.25 AED
• Gold pound at 3,484.00 AED
• Ounce in USD at 3,356.38 dollars

Strong demand for Exchange Traded Funds (ETFs) continues to support gold prices amid declining confidence in traditional safe havens, alongside ongoing central bank purchases and globally lower financing costs, which bolster the yellow metal as a store of value against market volatility.