Dubai, June 1 -- Gold prices in Dubai recorded a significant decline at the close of trading on Monday, June 1, offering relief to buyers after weeks of elevated rates.

According to the Dubai Jewellery Group, the price of 24-carat gold fell by Dh5.75 per gram to Dh541.75, down from Dh547.50 on Sunday, May 31.

Other gold categories also registered losses. The price of 22-carat gold dropped to Dh501.75 per gram from Dh507.00, while 21-carat gold fell to Dh481.00 from Dh486.00. The rate for 18-carat gold declined to Dh412.25 per gram from Dh416.75, and 14-carat gold slipped to Dh321.50 from Dh325.00.

The decline in local gold rates followed weakness in the international bullion market, where prices edged lower amid shifting investor senti...