22-carat gold price hits Dh200 a gram in Dubai, set to hit Dh220

22-carat gold price hits Dh200 a gram in Dubai, set to hit Dh220

Gold prices on Monday jumped one per cent to $1,758 an ounce, the highest since October 2012, while retail rates in Dubai for 22-carat gold also hit Dh200 per gram due weak global data from the US and Japan.. Analysts and industry executives expect that this upward trend in gold will continue in the coming months as investors and people invest more in the safe-haven commodity.KP Abdul Salam, group executive director, Malabar Group, said this is the only asset which is giving returns to investors in these uncertain times.". People have more confidence now in gold for that is the only asset which is appreciating.. All other assets such as stock market and property prices are on the losing side.. People also buy gold because it can be easily liquidated.. In addition to their daily needs, gold is the only item that people are buying.. NRIs are buying in good numbers because there is around 12 per_cent price difference between Dubai and India gold rates," he added.. The yellow metal, though, lost its gains later on Monday but it was still up over three per cent in the past 30 days and 36.7 per cent in the past one year..