In the last four weeks, the price of gold in UAE has increased by DH45 to almost record level. Only this month has increased by about 10%. On Wednesday morning, 22 carat gold was DH418.75 per gram and 24 carat gold at DH452.25 per gram. Which is only less DH1 from Tuesday, but due to the rising price, it is becoming very difficult for buyers to buy gold.
In India too, on Wednesday, 24 carat gold reached ₹ 11,569 per gram and 22 carat gold to ₹ 10,605 per gram. In the international market, gold is also close to records and has been leading for three days.
The US Federal Reserve statements have pushed prices up prices by the US Federal Reserve statements, increasing interest rate cuts, heavy purchases of central banks, increasing demand for gold ETF and keeping foreign gold reserves by China. Silver is also in boom, causing both gold and silver to become the best performing commodities this year.
