UAE Gold Prices Fall on September 7

Gold prices in the UAE experienced a moderate decline today across all denominations, influenced by expectations of a US interest rate hike following strong labor market data and rising prospects for rate increases. The price of 24-karat gold per gram was approximately 519.7 AED ($141.6), while 22-karat gold was around 476.4 AED ($129.8). Globally, the spot gold price fell by 0.5% to reach $4,405.47 per ounce, as investors awaited US inflation data that will impact Federal Reserve policies.

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