Due to increased demand for this safe-haven asset as a result of continued tensions in the Middle East and worries about the impending US elections, gold prices have risen beyond $2,700 for the first time ever.
Global spot gold increased by 0.73% to $2,713.41 on Friday, following a peak of $2,713.76 earlier in the day. Moreover, U.S. gold futures increased by 0.70% to $2,726.55.
Gold prices in the United Arab Emirates have mirrored this worldwide upswing, with 24-carat gold rising by AED2.5 to AED328.25.
Other gold kinds are likewise more expensive now; 22-carat gold costs AED304, 21-carat gold costs AED294.25, and 18-carat gold costs AED252.25.
Analysts predict that as political and economic unpredictability grow, gold prices may rise even further.
