Eid Al Adha: No gold price break for UAE buyers hoping for a dip

Discounts galore but hefty price tag drives shoppers away

- BY MANOJ NAIR Business Editor

It's proving to be a tough start to the UAE's Eid Al Adha gold sales promotions, as the Dubai gold price has remained above Dh370 per gram for 22 carat since Monday.

The only time it dipped below Dh360 was briefly at the start of the week, adding to the ongoing pressure on local gold demand.

Currently, there are no signs that gold prices will drop below the Dh370 level anytime soon. As of yesterday, the Dubai gold price stood at Dh374.5 per gram for 22 carat and Dh404.5 for 24 carat.

Eid shopping hit