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Spot gold rose 0.14% to $1,804.35 an ounce by 9:40 a.m. UAE time
Gold prices edged higher in the United Arab Emirates and Asia on Tuesday morning, helped by a weaker dollar.
Spot gold was up 0.14% at $1,804.35 an ounce by 9:40 am UAE time.
In the UAE, 24-carat gold opened at Dh218.75 a gram on Tuesday, compared with a previous close of Dh218.0 a gram. Among other variants of the precious metal, 22K opened at Dh202.5 per gram, 21K at Dh196.0 and 18K at Dh168.0 per gram.
The dollar index fell 0.1%, lowering gold prices for overseas buyers.
Precious metals retailers in Dubai say gold jewelery purchases have surpassed pre-pandemic levels in 2022.
2022 will end on a high note, supported by double-digit growth in the third quarter, the Dubai jeweler said, and expects the momentum to continue in 2023 as well.
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