Gold prices fell further at the opening of the markets in Dubai on Wednesday in line with global prices ahead of the interest rate cuts by the US Federal Reserve later today. At 9am, the 24K variant of the yellow metal was trading at Dh311 per gram,

Gold prices opened lower for the third consecutive day when markets opened in Dubai on Monday. Globally, gold climbed over 1 per cent on Thursday after the Fed rate cut, powering bullion to all-time highs, coming just a few cents shy of $2,600 in the previous session.

Gold prices hit record highs, with spot gold up 0.5% at $2,588.29 per ounce, driven by a weaker dollar and anticipated US interest rate cuts.

Gold price rally continued on Monday in Dubai, reaching an all-time high of Dh313.50 per gram. By 6 pm on Monday, the 24K variant of the yellow metal was trading at Dh1.25 per gram higher at Dh313.5 compared to Dh312.

Gold prices are trading near record highs, driven by a weaker dollar and expectations of US interest rate cuts. Experts predict continued gains, with geopolitical tensions and safe-haven demand supporting the upward trend.