By Chakradhar Reddy 
Gold prices edged higher at the opening of Dubai’s markets on Monday, following a sharp decline over the weekend.
According to data from the Dubai Jewellery Group, 24K gold was priced at Dh321.25 per gram, up from Dh320.75 per gram at the weekend’s close. Other gold variants were also trading at updated rates, with 22K at Dh297.5, 21K at Dh288.0, and 18K at Dh246.75 per gram.
Last week, the 22K variant briefly exceeded the Dh300 per gram mark as prices surged in the early part of the week before tapering off.
On the global front, spot gold was trading at $2,652.35 per ounce, reflecting a modest 0.13% increase.
Terence Hove, a financial markets strategist consultant at Exness, noted that gold prices fell over the weekend due to pressure from rising Treasury yields and a strong US dollar. Investors are now focused on the upcoming Federal Reserve monetary policy meeting for further direction.
TMEEX