Record gold run makes Diwali the priciest yet

INDIAN FESTIVAL'S EMOTIONAL PULL AUGURS WELL FOR RETAILERS

- BY NIVETHA DAYANAND Assistant Business Editor

Gold recently crossed the historic $4,000-an-ounce threshold, marking a rise of more than 50 per cent over the past year.

For the Indian community in Dubai, preparing for Diwali places tradition under pressure. Buying gold during Diwali is both an act of adornment and a symbolic ritual. Yet with gold at approximately $4,164 per ounce, many are questioning whether that ritual can still fit the budget.

In the UAE, 24-carat gold has broken Dh500 per gram after a prolonged rally. While that kind of momentum often deters retail buyers, the Diwali season is proving exceptional.

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