Hyderabad, May 8 -- Gold prices in Dubai, United Arab Emirates (UAE), fell significantly on the afternoon of Thursday, May 8, with rates dropping by 9 Dirham (Rs 208.35) per gram.

According to the Dubai Jewellery Group, the price of 24-carat gold fell to Dh 400.25 (Rs 9,265.64) per gram, from Dh 409.00 per gram at the close of trading on Wednesday, May 7.

Other gold variants saw price drops as well:

22-carat: Dh 370.50 (Rs 8,576.94) per gram, up from Dh 378.50 per gram

21-carat: Dh 355.25 (Rs 8,223.91) per gram, up from Dh 363.00 per gram

18-carat: Dh 304.50 (Rs 7,049.06 ) per gram, up from Dh 311.25 per gram

In a notable development, Dubai residents can now receive 24-carat gold coins at their doorstep in under an hour, as part of ...