Gold Rate in the UAE in 1998
In 1998, 24K gold in the UAE ended the year at د.إ34 per gram, down 0.8% from د.إ34 at the end of 1997. The international price closed 1998 at $287.80 per troy ounce, and the year-end exchange rate was 3.67 AED per US dollar. Dubai quotes gold per gram in 24K, 22K, 21K and 18K, and the dirham has been pegged to the US dollar at 3.6725 since 1997, so the AED gold rate tracks the international price almost exactly.
Gold Rate in the UAE 1998 by Karat and Unit
| Karat | Per Gram | Per Tola | Per 10 Grams |
|---|---|---|---|
| 24K | د.إ34 | د.إ396 | د.إ340 |
| 22K | د.إ31 | د.إ363 | د.إ311 |
| 21K | د.إ30 | د.إ347 | د.إ297 |
| 18K | د.إ25 | د.إ297 | د.إ255 |
Year-end 1998 international price ($287.80/oz) converted at 3.67 AED/USD. Local retail rates added duty, tax and making charges on top.
Monthly Gold Rate in the UAE 1998
| Month | USD/oz close | 24K per Gram (AED) | 22K per Gram (AED) | Month change |
|---|---|---|---|---|
| January | $304.90 | د.إ36 | د.إ33 | +5.1% |
| February | $297.40 | د.إ35 | د.إ32 | -0.0% |
| March | $301.00 | د.إ36 | د.إ33 | +1.7% |
| April | $310.70 | د.إ37 | د.إ34 | +0.8% |
| May | $293.60 | د.إ35 | د.إ32 | -4.3% |
| June | $296.30 | د.إ35 | د.إ32 | +1.4% |
| July | $288.90 | د.إ34 | د.إ31 | -2.7% |
| August | $273.40 | د.إ32 | د.إ30 | -3.8% |
| September | $293.90 | د.إ35 | د.إ32 | +1.7% |
| October | $292.30 | د.إ35 | د.إ32 | -1.8% |
| November | $294.70 | د.إ35 | د.إ32 | +0.2% |
| December | $287.80 | د.إ34 | د.إ31 | -1.9% |
Monthly closes are the international USD price; the AED columns convert them at the 1998 year-end exchange rate, so intra-year currency moves are not reflected month by month.
1998 vs today
Today 24K gold in the UAE is about د.إ483 per gram, roughly 14.2× the 1998 year-end price. See the live the UAE gold rate.
Frequently asked questions
What was the gold rate in the UAE in 1998?
At the end of 1998, 24K gold in the UAE was د.إ34 per gram and 22K was د.إ31 per gram. This is the international year-end price of $287.80 per troy ounce converted at the year-end rate of 3.67 AED per US dollar.
How much did gold change in the UAE during 1998?
Gold fell 0.8% in AED terms during 1998, from د.إ34 to د.إ34 per gram, while the dollar price moved -0.8%. The difference between the two is the AED exchange rate.
What is the 1998 gold rate worth compared with today?
Today 24K gold in the UAE is about د.إ483 per gram, roughly 14.2 times the 1998 year-end price of د.إ34.