Dubai gold prices hit repeated record highs, affecting jewellery demand and sales

Gold prices in Dubai have been setting new record highs, with 24-karat gold repeatedly crossing 550 dirhams per gram and 22-karat gold trading just below 500 dirhams. The sustained high prices have led to a significant drop in gold jewellery demand and sales in the UAE. These reports describe the same core development of record gold prices impacting the local market.