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Abu Dhabi: Gold prices in the United Arab Emirates (UAE) have plunged to a one-year low in the weekend ahead of Dhanteras and Diwali celebrations.
According to Gulf News, 22-karat gold in the UAE was priced at Dh184.50 a gram on Friday morning, giving residential shoppers an advantage of Dh19.75 compared to Dh204.25 during the same Diwali period last year.
In addition to price cuts, almost all jewelers in the UAE have announced various offers for buyers of gold jewellery. In addition to salary incentives, many jewelers offer gifts, including gold coins, to those who purchase a certain amount of gold.
Diwali in India is one of the busiest times for buying gold in the UAE, with gold prices in the past two years at AED 215.50 in 2020 and AED 204.25 in 2021.
gold price in india
Gold prices continued their decline on Friday from an all-time high of Rs 54,380 per 10 grams on April 18 this year. Gold fell for the second week in a row on weak global cues and crossed the Rs 50,000 mark ahead of Dhanteras and Diwali.
On the Multi Commodity Exchange (MCX), gold futures edged down 0.33 percent or 163 rupees to 49,980 rupees per 10 grams.
Dhanteras mark the first day of Diwali and are considered to be the buying of gold and silver as part of the Hindu celebration. This year will be celebrated on Sunday.
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