Compare Listings

Dubai’s Price of Gold Continues to Rise

Dubai’s Price of Gold Continues to Rise

Political tension in Dubai resulted in a continuing decline in gold prices. Prices of 22 and 24K gold are up. 22K gold is at AED162.25 compared to AED161.25 in the past weeks. 24K, on the other hand, rose at AED172.75 from AED171.50.

According to Karim Merchant, Pure Gold’s CEO and marketing director, said that the political tensions in the Middle East with the Trump administration has increased the interest in the element which is the safest investment during uncertain times. The conflict between the Middle East and the US started when the latter destroyed an Iranian drone last week.

Photographer: Viktor Forgacs | Source: Unsplash

The market is getting ready for the lower interest rates from the Fed starting next week. Merchant said that jewelry retailers are also preparing for the influx of tourists from GOCC countries and holiday shoppers during the Eid celebration. This will have positive results in trade.

If you want to make sure that your Dubai investment is secure, ask advice from the right professionals. Contact ReDubai now.

Related posts

Dubai: The More Affordable City to Invest In

Dubai has become a more affordable country in 2019 to invest in particularly for expats. There are several factors that contributed to it: a continuous decline in rent, reduced fees, and fines for the government, a drop in grocery prices, lower prices in dining out, and a freeze in its school’s fees.

Continue reading

Dubai Creek Harbour

Dubai Creek is the cradle of Dubai’s heritage. This was the original lifeline of Dubai before it became what it is today. This was a natural harbor and bustling with activities like fishing, trading, and pearl gathering.

Continue reading

Top 8 Red Flags to Be Mindful of When Buying a Home in Dubai

If you are planning to buy a house in Dubai, it is usual for you to have confusing emotions and thoughts about the new place. If you see the following red flags on the day of your house inspection, then you might reconsider the offer.

Continue reading