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UAE gold prices drop as 24-karat falls below AED 500 per gram, with 22K, 21K and 18K also down; silver declines to AED 7.16 per gram amid weak global markets
Dubai gold prices fall below Dh500 for 24K, offering buyers savings as global rates stay under pressure amid Fed rate hike expectations.
Metals' weakness reflect a combination of surging bond yields, a stronger dollar and technical selling following the support break, says Ole Hansen, head of commodity strategy at Saxo Bank