In the local market, the gold price in the UAE remained stable with the 18K gold gram priced at approximately 349.75 UAE Dirhams. We provide updated price details for all carats, along with factors influencing market movements.

Gold prices have reached an all-time high, surpassing $3,800 per ounce due to risks of a U.S. government shutdown, a weak dollar, and increasing expectations that the Federal Reserve will cut interest rates further this year.

The global gold ounce price rose by 1.3% during Monday’s trading, hitting a historic high of $3,819 per ounce after opening at $3,764 per ounce and currently trading around $3,809 per ounce.