26.1 C
Dubai
Tuesday, November 5, 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

Dubai Celebrates Flag Day: A Tribute to Unity and National Pride

Dubai marked a proud and spirited celebration of Flag Day, a national event that has become an enduring symbol of unity, pride, and devotion...

Pioneering AI Innovations with Abis Ali, Co-Founder of Raen AI

Pioneering AI Innovations with Abis Ali, Co-Founder of Raen AI In an era where artificial intelligence is transforming industries worldwide, Raen AI stands out as...

From Vision to Reality How Harshit Aggarwal’s Novamax Industries is Redefining Cooling Solutions

In the fast-evolving world of startups, where passion meets perseverance, Harshit Aggarwal has carved out an impressive path with Novamax Industries LLP. Founded in...

8 Tips for Choosing the Right Pet Insurance in Dubai

As a pet owner in Dubai, you want to be sure that your companion receives the best care possible. But we understand that vet...

Dubai Tourism Boom: Record Visitor Arrivals Drive Unprecedented Growth

Dubai tourism industry is experiencing an unprecedented boom, setting new records for visitor arrivals in 2024. The city, renowned for its luxurious offerings and vibrant...

Latest Articles