39 C
Monday, June 17, 2024

Gold Prices in Dubai Experience Early Trade Decline-1

In early trade, Dubai witnesses a dip in gold prices, with its variants 22K, 21K, and 18K opening at Dh227.25, Dh220, and Dh188.50 per gram, respectively, down by Dh0.25 per gram.

Steady Spot Gold Amidst Investor Caution

Spot gold remains steady at $2,026.22 per ounce at 9:14 am UAE time, as investors exercise caution ahead of the US jobs report after a volatile week for the precious metal, as noted by analysts like Zain Vawda from dailyFX.

Gold’s Support Near $2,000 Per Ounce: Gold Prices

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, emphasizes that gold finds support near $2,000 per ounce due to falling US yields and a waning appetite for equities, contributing to the flow of capital toward the precious metal.

Central Banks’ Gold-Buying Trends: Gold Prices

Data from the World Gold Council reveals a slowdown in central banks’ gold-buying in October, with reported global net purchases totaling 42 tonnes, a 41% decline from September’s revised total of 72 tonnes. Despite the slowdown, the trend remains robust, standing 23% above the January-September monthly average of 34 tonnes.

Also Read

“Smart Home Market in the UAE Anticipates Double-Digit Growth”-1

New UAE Insurance Legislation Requires Minimum Claim Value of Dh50,000 for Appeals Against Dispute Committee Decisions

Related Articles

OpenAI CEO Celebrates Collaboration with Apple, Joyous Partnership

OpenAI CEO Celebrates Collaboration with Apple In a significant announcement, OpenAI CEO, Sam Altman, expressed jubilation over the organization's newfound collaboration with tech giant Apple....

Will Gold price continue to fall after FED verdict?

Will Gold price continue to fall after FED verdict? The metal seen its highest level on May 20, gaining momentum on US rate cut expectations...

Mark Cuban Creates Hundreds of Millionaires, Empowering Leadership

Mark Cuban's influence also extends into the digital economy, where his investments in technology and online platforms have proven particularly transformative.In a remarkable display...

Tesla CEO Elon Musk Faces $7.5 Billion Insider Trading Lawsuit

Tesla CEO Elon Musk, the visionary CEO of Tesla and SpaceX, finds himself embroiled in yet another legal battle, this time facing a staggering...

Elon Musk Tops Forbes Billionaires List, Surpasses Arnault and Bezos

Elon Musk Tops Forbes Billionaires List, Surpasses Arnault and Bezos In a stunning turn of events that reverberated throughout the financial world, Elon Musk, the...

Latest Articles