28.3 C
Dubai
Saturday, November 23, 2024
spot_img

UAE: Gold prices fall further in Dubai – News

[ad_1]

Spot gold fell to $1,745.85 an ounce by 9:05 a.m. UAE time


read more…



published: Monday, November 21, 2022 at 9:13 am

Gold prices fell on Monday morning after suffering their worst week in five, as traders awaited further clues on the central bank’s interest rate strategy.

Spot gold fell to $1,745.85 an ounce by 9:05 am UAE time.

In the United Arab Emirates, gold prices fell by half a dirham per gram at the open on Thursday.

24K gold opened at AED 211.5 per gram on Monday, compared to a previous close of AED 212. Among other variants of the precious metal, 22K was traded at Dh198.75, 21K at Dh189.5 and 18K at Dh162.5.

Analysts said last week that institutional investors are cautious and further gains may be difficult to achieve.

Atlanta Fed President Raphael Bostic said on Saturday he was prepared to “abandon” a three-quarters point hike at the Fed’s December meeting, arguing that the Fed’s target policy rate would need to rise by at most another percentage point to reach its peak. Fight inflation.

– waheedabbas@khaleejtimes.com

[ad_2]

Source link

Related Articles

Gusteau Foods Transforming the Food Industry with Passion and Innovation

In a world where the demand for convenience and quality often seem at odds, Gusteau Foods Pvt Ltd, led by the visionary entrepreneur Karthick...

From Seed to Superfoods The Inspiring Journey of Bharat Budhiraja and Urbana Superfoods

In a world teeming with fast-paced food trends, Bharat Budhiraja is charting a unique path with his brand, Urbana Superfoods, owned by Krish Perennials Pvt....

Dubai Dominates: Secures Top Spot in Middle East and Africa for 2024 Global City Index, Leading the Region for Second Year

Dubai has once again demonstrated its rising global influence, being recognized as the leading city in the Middle East and Africa in the 2024...

DEWA Hatta Hydroelectric Project Nears Completion: A Milestone in Dubai’s Renewable Energy Vision

DEWA , Dubai Electricity and Water Authority ,recently announced that its ambitious hydroelectric power plant in Hatta is nearing completion, with 94% of the...

Innovate Visa Solutions Your Trusted Partner in Global Immigration Services

Innovate Visa Solutions Your Trusted Partner in Global Immigration Services Innovate Visa Solutions has established itself as a leader in immigration services, providing expert support...

Latest Articles