Strong demand is outpacing supply at a faster rate this year than estimated, especially after the UAE’s removal from FATF Grey List
uae3 hours ago
Gold prices rose early on Monday as Asian stocks eased due to concerns about a potential decline in China's economic growth amid an ongoing trade war and signs of tighter monetary policy by the US Federal Reserve.
Spot gold was up 0.3 percent at $1,220.66 an ounce at 0102 GMT. Gold rose 1.3 percent last week in its biggest weekly percentage gain in seven weeks.
Meanwhile, 24k gold is priced at Dh148 and 22k can be bought at Dh139 in Dubai.
US gold futures were up 0.2 percent at $1,224.1 an ounce. Asian shares slipped on Monday with MSCI's broadest index of Asia-Pacific shares outside Japan down 0.7 percent.
China central bank governor Yi Gang said on Sunday he still sees plenty of room for adjustment in interest rates and the reserve requirement ratio (RRR), as downside risks from trade tensions with the United States remain significant.
The United States sought to make currency a central part of any solution to a bruising trade fight with China, keeping the pressure on Beijing to speed up economic reforms at a gathering of world policy makers who pledged to do more to safeguard global growth.
Brussels, the political heart of Europe, could prove the centre of global market focus this week as Italy's budget and Brexit talks overshadow economic data and central banks.
The stubborn problem of Britain's land border with Ireland thwarted a drive to clinch a Brexit deal before a European Union summit this week, as negotiators admitted defeat after marathon talks and pressed pause for the coming days.
Holdings in SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, rose 0.76 percent to 744.64 tonnes on Friday.
Gold speculators extended their net short position on Comex gold contracts by 29,881 contracts to 103,009 contracts in the week to Oct. 9, the US Commodity Futures Trading Commission said on Friday
Physical gold demand in India was subdued last week as a rally in domestic prices curbed retail purchases going into a key festival season, while buying remained lacklustre in other major Asian hubs.
Strong demand is outpacing supply at a faster rate this year than estimated, especially after the UAE’s removal from FATF Grey List
uae3 hours ago
The initiative is expected to boost public transport usage
uae3 hours ago
Authorities urged people to wear face masks and glasses when doing outdoor activities
world4 hours ago
In 10 years, all operations of Dubai International Airport will be transferred to Al Maktoum International
aviation4 hours ago
The meeting saw the formation of four technical committees, one for roads and infrastructure, one for houses and properties, one for dams and water facilities, and one for energy and water
uae4 hours ago
Distance learning also implemented due to nationwide transportation strike
asia4 hours ago
For prospective investors, it is worth considering if a future home would be rain-resilient enough to sustain any weather changes
realty5 hours ago
What happens if the employee fails to perform his duties due to circumstances beyond his control?
legal6 hours ago