Time to buy? Dubai gold prices plunge nearly Dh18 per gram in 24 hours
<p>Dubai’s gold market has seen a significant shift as gold prices plunged by nearly Dh18 per gram in just 24 hours, sparking strong interest among buyers, investors, and jewellery enthusiasts. Known as a global hub for gold trading, Dubai often reflects international market movements, and this sudden dip has raised an important question—<i>is now the right time to buy gold?</i></p><p>The sharp decline in gold prices is mainly attributed to fluctuations in global bullion rates, a stronger US dollar, and changing expectations around interest rates. When global gold prices fall, Dubai’s highly competitive and transparent gold market responds quickly, making it an attractive destination for buyers seeking better value.</p><p>For residents and tourists alike, this price drop presents a promising opportunity, especially for those planning to purchase jewellery for weddings, festivals, or long-term investment. Lower prices can significantly reduce overall costs, particularly on high-carat gold such as 22K and 24K, which are widely preferred in the UAE.</p><p>However, experts advise buyers to stay cautious and informed. Gold prices can be volatile, and short-term dips may be followed by quick recoveries depending on global economic signals, inflation trends, and geopolitical developments. Investors looking at gold as a hedge should consider their long-term goals rather than focusing solely on daily price movements.</p><p>Jewellers across Dubai have reported increased footfall as customers look to take advantage of the sudden decline. Bargain hunters are also keeping a close watch, expecting potential further adjustments in the coming days.</p><p>In conclusion, the recent plunge in Dubai gold prices could be an ideal buying window for those who have been waiting for a correction. Whether for personal use or investment, staying updated on market trends and consulting reliable sources can help buyers make well-timed decisions.</p>