Gold rates in UAE on Wednesday

Gold prices in the UAE saw an increase across all denominations today, with the 21-karat gold priced at approximately 452.3 dirhams (123.2 USD), and 24-karat gold reaching 516.9 dirhams (140.8 USD). Globally, gold prices rose by 0.4% to reach $4,372.19 per ounce, aided by a temporary decline in the US dollar. However, forecasts suggest a 60% likelihood that the U.S. Federal Reserve will raise interest rates at its upcoming meeting, which could reduce gold's appeal as a hedge against inflation.

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