Gold prices fell below Dh400 in Dubai on Friday, as precious metals fell globally after China announced that it may exempt some US goods from tariffs.

The 24K variant of the yellow metal was trading at Dh397.25 per gram while 22K, 21K and 18K were selling at Dh367.75, Dh352.75 and Dh302.25 per gram, respectively.

After hitting a record high of Dh420 per gram on Tuesday, gold prices have dropped nearly Dh23 per gram in the past three days.

Globally, gold was trading at $3,306.97 per ounce at noon time. It slipped below $3,300 per ounce in the early session.