Global forecasts hint at gold price crossing Dh430 a gram by March

Bullion outlook raised to $3,600 an ounce, leaving UAE shoppers bracing for impact

- BY MANOJ NAIR

At Dh375.25 per gram for 22 carats, Dubai gold prices remain among the highest levels seen in the past 30 days. But shoppers and jewellery retailers are more concerned about what comes next.

Global forecasts are being revised upwards. Swiss bank UBS now expects gold to reach $3,600 an ounce by the end of March — $100 higher than its earlier projection. The current all-time high for bullion is $3,500.

If the UBS forecasts prove correct, the Dubai gold price for 22 carats is headed for Dh430/Dh440 levels.