Dubai gold price slips; Shoppers get slight relief after record rush

Retail gold prices in Dubai softened on Tuesday, tracking a weaker global trend as investors awaited clearer signals on US monetary policy and digested fresh policy developments in China.

In the UAE, 24-karat gold stood at Dh480.25 a gram, down from Dh483.75 on Monday. The popular 22-karat category slipped to Dh444.75 from Dh448. 

Globally, bullion retreated toward $3,980 an ounce after Federal Reserve officials stopped short of supporting another rate cut next month. The dollar held near a multi-month high, reducing the appeal of non-yielding assets such as gold.