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Gold prices hit over 2-week low: Is it a good time to invest in Dubai?

Dubai - Dubai gold prices are currently a Dh154.50 for 24-karat

Gold prices hit their lowest in over two weeks early on Monday, as the dollar climbed to a more than three-month high versus the yen after Japan's ruling bloc scored a big win in Sunday's election.
Dubai gold prices are currently a Dh154.50 for 24-karat and 22-karat can be bought for Dh145.25.
Globally, spot gold was down 0.4 per cent at $1,275.48 an ounce by 0037 GMT, after earlier dropping to its lowest since Oct. 6 at $1,273.80.
US gold futures for December delivery fell 0.3 per cent to $1,276.70 per ounce.

Japan's yen hit over three-month lows as an election win for the ruling coalition gave a green light for super-easy monetary policy, while the euro eased as Spain's constitutional crisis aggravated concerns about political unity in the bloc.
The top US Senate Republican and the White House budget director said on Sunday they hoped for action on a Republican tax reform package by the end of the year, while keeping their options open on how to pay for sweeping tax cuts.
US President Donald Trump's tax reform plans won partial support on Friday when Republican US Senator Rand Paul said he was "all in" for massive tax cuts, but the party was still far from united over how to achieve the main item on its domestic agenda.
US home resales unexpectedly increased in September as the effects of Hurricanes Harvey and Irma began to dissipate, but a persistent dearth of properties for sale continued to weigh on overall activity.

Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank's top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change.
Federal Reserve Chair Janet Yellen said on Friday that asset purchases and other unconventional policy tools must remain part of the Fed's arsenal as long as the economy remains stuck in a low interest-rate economy.
Cleveland Federal Reserve Bank President Loretta Mester on Friday said she is comfortable with the Fed's approach to raising rates gradually, though she herself sees a slightly faster rate-hike path as appropriate.