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High UAE gold price is drawing crowds to stores, but only to sell
Gulf News
|July 16, 2025
Currency conversion is another factor — strong dollar raises remittance value for expats
Short of cash? Sell your gold.
With Dubai gold prices hovering around Dh375 per gram for 22 carats - just Dh8.75 below the all-time high some UAE residents are cashing in their gold to meet short-term financial needs, according to gold retailers.
Since Friday, they said, a modest but noticeable number of residents and even some visitors have been selling gold for cash, not to exchange for new jewellery.
This story is from the July 16, 2025 edition of Gulf News.
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