Latest news with #Dh14
Gulf Insider
17-04-2025
- Business
- Gulf Insider
Dubai Gold Price Creates History As Key Level Is Broken
Gold prices are on fire – for a second consecutive day, with the Dubai Gold Rate for a gram of 22K up by Dh14 in just over a day. A gram costs Dh372.5 right now. Nothing like this has ever been seen before, with the price of a gram of 24K clearing Dh400 for the first time. A level that market sources at the start of the year said would take at least until September/October to happen. These days, gold is creating and resetting records by setting its own rules. The numbers tell the story – 'The price difference between the lowest Dubai gold price in the year to date and today's price is a near Dh150 a gram,' said Abdul Salam K.P., Vice-Chairman of Malabar Gold & Diamonds. This year's lowest local rate was the Dh223.25 a gram for 22K on February 14. In Saudi Arabia, the 22K and 24K gram prices are SR378 and SR409, respectively. In the global commodities market, bullion continues on its merry way, at one point earlier today shooting past $3,350 an ounce mark. Right now, it's at $3,337 – but the key point here is that it's still a good $115 up from 24 hours ago. 'Yesterday, when the gold stores were opening, we were wondering whether gold would be closing the day at $3,280,' said a jeweller. 'Who would have thought we could well be looking at reaching $3,380 within the next few days. Even today!' Global central banks and institutional investors keep buying gold amidst all the uncertainty in markets over US reciprocal tariffs – whether there will be a solution after the 90-day pass offered by President Trump to all nations except China. These days, bullion traders in Dubai are not even bothering to give price forecasts or when it could stabilize. Because it could change within an hour. It's been that kind of 48 hours… The only thing shoppers can wait for is for profit booking to take place when gold hits a certain point. But when will that point be reached?
Daily Tribune
17-04-2025
- Business
- Daily Tribune
Dubai Gold Price Hits Historic High as 24K Breaks Dh400 Mark for the First Time
Email : Gold prices in Dubai are rewriting history once again, with the price of 24K gold surpassing the Dh400 per gram mark for the first time ever, fueling a market frenzy and sending both consumers and traders into uncharted territory. As of Thursday morning, the Dubai Gold Rate for 22K stands at Dh372.5 per gram — a staggering Dh14 jump in just over a day. The once-unthinkable Dh400 level for 24K gold has now become reality, months ahead of what experts had predicted earlier this year. 'The price gap between the year's lowest and today's rate is nearly Dh150 a gram,' noted Abdul Salam K.P., Vice-Chairman of Malabar Gold & Diamonds. On February 14, the 22K rate was at Dh223.25 — today, it's over Dh372.5. The bullish trend isn't limited to the UAE. In Saudi Arabia, the 22K and 24K gold rates are at SR378 and SR409 respectively, reflecting the region-wide surge in demand and prices. 📈 Global Bullion Surge Globally, gold continues its meteoric rise. Bullion briefly breached the $3,350 per ounce mark today, and is currently trading around $3,337 — an eye-popping $115 increase in just 24 hours. 'Just yesterday we were wondering if it would close at $3,280,' said a Dubai-based jeweller. 'Now, $3,380 isn't just possible — it could happen today.' 💰 What's Driving the Surge? The rally is being driven by heavy buying from global central banks and institutional investors amidst persistent uncertainty over U.S. reciprocal tariffs. President Trump's recent 90-day extension — exempting all nations except China — has only deepened market speculation. Amid this volatility, traders in Dubai are holding back from issuing forecasts. 'We've stopped predicting. Prices are swinging by the hour,' one bullion trader said. ⏳ What's Next? With prices reaching new highs almost daily, the big question now is: when will profit-booking begin? Shoppers and investors are watching closely for signs of stabilization, but no one knows where the peak lies.
Gulf News
17-04-2025
- Business
- Gulf News
Dubai gold price is on fire again; gram of 24K clears Dh400 for first time
Dubai: Gold prices are on fire – for a second consecutive day, with the Dubai Gold Rate for a gram of 22K up by Dh14 in just over a day. A gram costs Dh372.5 right now. Nothing like this has ever been seen before, with the price of a gram of 24K clearing Dh400 for the first time. A level that market sources at the start of the year said would take at least until September/October to happen. UAE gold rates These days, gold is creating and resetting records by setting its own rules. The numbers tell the story – 'The price difference between the lowest Dubai gold price in the year to date and today's price is a near Dh150 a gram,' said Abdul Salam K.P., Vice-Chairman of Malabar Gold & Diamonds. This year's lowest local rate was the Dh223.25 a gram for 22K on February 14. In Saudi Arabia, the 22K and 24K gram prices are SR378 and SR409, respectively. Bullion prices In the global commodities market, bullion continues on its merry way, at one point earlier today shooting past $3,350 an ounce mark. Right now, it's at $3,337 - but the key point here is that it's still a good $115 up from 24 hours ago. "Yesterday, when the gold stores were opening, we were wondering whether gold would be closing the day at $3,280," said a jeweller. "Who would have thought we could well be looking at reaching $3,380 within the next few days. Even today!" No clarity until tariff issue goes away? Global central banks and institutional investors keep buying gold amidst all the uncertainty in markets over US reciprocal tariffs - whether there will be a solution after the 90-day pass offered by President Trump to all nations except China. These days, bullion traders in Dubai are not even bothering to give price forecasts or when it could stabilize. Because it could change within an hour.
Khaleej Times
25-03-2025
- Khaleej Times
UAE: Some beggars making 'more money' than you? Shocked residents vow to be more cautious
Many residents are driven by compassion, especially during the holy month of Ramadan, however, the recent arrest of a beggar who amassed Dh14,000 in just three days has raised concerns about the realities of begging and the complexities of charity. Authorities have been running campaigns to arrest beggars yet, many individuals unknowingly contribute to a cycle of exploitation. Sudanese expat Mohamed O., who lives near a mosque, frequently encounters an elderly man pleading for help. The man often claims that his children are starving. "I always wonder why he doesn't seek assistance from official charity organisations," Mohamed recalled. Despite his concerns, he habitually gives small amounts of cash as he walks over to pray. However, upon hearing the news about the recent arrest, he felt a wave of shock wash over him. "I had no idea that these individuals could be making more money through begging than I earn at my job," he admitted. This realisation has prompted him to rethink his charitable actions and consider more effective ways to help those genuinely in need. On Friday, Dubai Police announced that 127 beggars have been arrested during the first half of Ramadan, and that the authority has seized more than Dh50,000 which was found in their possession. Similarly, Sharjah Police arrested 107 individuals, seizing over Dh50,000 from them in a major crackdown on begging during the first half of Ramadan this year. The authorities stated that the accused comprised 87 men and 20 arrest was carried out by the anti-begging team under the Special Tasks Department. Law enforcement authorities across the UAE have been cracking down on this illegal activity since the beginning of Ramadan, conducting awareness programmes and making several arrests. Perpetrators have been warned of the consequences, including fines and jail terms. Another Sharjah resident, Israa M., has always viewed giving as a moral obligation. "I see it as a way of doing good," she said. However, she recalls her father's wise words urging her to donate only through official channels. "He taught me that it's essential to ensure my contributions reach the right people — those who truly need help," she explained. After learning about the recent incidents involving beggars, Israa has started to reflect more critically on her giving habits. "I want to help, but I also want to ensure my generosity isn't exploited," she added. Last year, Dubai Police arrested two women who had amassed Dh60,000 and Dh30,000 solely through begging. Authorities have noted that many beggars frequent mosques, markets, and other crowded areas during Ramadan, employing fabricated stories designed to tug at heartstrings. Moreover, a new trend has emerged where criminals exploit social media, posting false messages about fabricated tragedies to solicit donations. These deceitful tactics often include bank account numbers and links to fake donation pages, aiming to extract funds from unsuspecting individuals. Azhari, a young resident, recently had an eye-opening experience that changed her perspective on charity. "Last week, I was walking with my friends when we spotted a woman sitting on the curb, asking for help," Azhari recalls. Without hesitation, she reached into her pocket and handed the woman some cash. Her friends followed suit, eager to contribute as well. Feeling good about her act of kindness, Azhari continued on her way. However, a few days later, she stumbled upon news about a beggar who had been arrested for exploiting people's generosity, having collected a significant amount of money in a short time. "I was shocked to think that the woman I helped might have been part of that situation," she says. This revelation left her feeling conflicted. "It's hard to believe that some people could take advantage of others' kindness like that," Azhari admits. Despite this newfound awareness, her compassion remains strong. "I still want to help, but now I'm more cautious about how I do it," she reflects. In the UAE, begging is a crime punishable by a Dh5,000 fine and up to three months in prison. Those operating beggar gangs face even harsher penalties, including fines up to Dh100,000 and longer jail terms. The Dubai Police reported that 99 per cent of arrested beggars consider begging a "profession," highlighting the need for community awareness and vigilance. Residents are encouraged to report suspicious activities to authorities, ensuring that charitable contributions are directed to genuine causes and those truly in need.
Express Tribune
23-03-2025
- Express Tribune
Beggar in Sharjah arrested with over Rs1m in just three days
Listen to article Sharjah Police have arrested a beggar found in possession of Dh14,000, an amount he amassed in just three days by exploiting public sympathy. The amount is equal to over PKR 1 million. Brigadier General Omar Al-Ghazal Al-Shamsi, Director of the Special Tasks Department and Head of the Beggars and Street Vendors Monitoring Team, stated that begging remains a concerning issue with both security and social implications. Many beggars manipulate people's generosity to gain quick and illegal financial benefits. According the Gulf New, the individual was reported by a concerned resident after he was seen begging near a mosque, claiming to be in financial distress. Upon police intervention, it was revealed that he was residing in the country illegally. Further investigation confirmed that he had collected the substantial sum within a short period. Brigadier Al-Shamsi emphasized that Sharjah Police have intensified efforts against begging through their campaign, 'Begging is a Crime, Giving is a Responsibility.' Launched at the start of Ramadan, the initiative involves deploying both military and civilian patrols to monitor and curb begging, which often spikes during the holy month. Authorities have urged the public not to engage with beggars and to report any incidents by calling the toll-free number 80040 or the call center at 901.
