Due to sanctions imposed on Russia for assaulting Ukraine, gold prices jumped on Monday morning, registering their largest rise in nine months.
At 9.10 a.m. UAE time, spot gold was up 1.17 percent to $1,911.22 per ounce.
At the start of the market on Thursday in the UAE, gold prices jumped to three dirhams per gram.
22K gold was trading for Dh217.5 per gram, 21K gold at Dh207.5, and 18K gold at Dh177.75 per gram.
A number of Russian lenders have been barred from using the international payments system SWIFT, and the country’s central bank has been placed under sanctions by the United States, the European Union, the United Kingdom, and Canada.