One station is scheduled to return to service next week, after 'all necessary maintenance and testing jobs have been completed'
uae13 hours ago
Gold prices were trading above $1,900 (Dh6,978) an ounce on Thursday morning, dropping by 0.2 per cent from Wednesday’s close. But the price was trading higher as compared to Wednesday morning.
Spot gold was down $4.0 an ounce at $1,903.75 per ounce at 9.15am UAE time.
In the UAE, Dubai Gold and Jewellery Group data showed 24K trading at Dh230.75 per gram, 22K at Dh216.75, 21K at Dh206.75 and 18K at Dh177.25 at the opening of the trade on Thursday.
The precious metal had eased on Wednesday morning with 24K gold retail price falling below Dh230 per gram in Dubai.
Commodity investors are waiting for the US jobless claims data on Thursday and non-farm payroll numbers on Friday for the further direction.
“We need to get a sense from the payrolls report on what is the immediate steer on US Fed policy,” said Ilya Spivak, currency strategist at DailyFX.
"Yields have eased back a bit since the start of the week. But the dollar is range-bound, it hasn't been able to build momentum and hasn't fallen off ... that has been reflected in gold," Spivak told Reuters.
The US 10-year Treasury yield slipped below 1.60 per cent, reducing the opportunity cost of holding non-interest bearing gold.
-waheedabbas@khaleejtimes.com
One station is scheduled to return to service next week, after 'all necessary maintenance and testing jobs have been completed'
uae13 hours ago
Individuals that are physically active tend to ignore mild pain, considering it a normal part of exercise or sports
uae13 hours ago
The campus is set to become the largest dedicated hub for AI and technology companies in the Middle East and North Africa
uae13 hours ago
Dravid's tenure comes to an end after the T20 World Cup 2024 in the USA and West Indies
sports14 hours ago
Stand-in skipper Jitesh believes the absence of key England players will not affect his side's morale on Sunday
sports14 hours ago
Netanyahu came under personal attack from Defence Minister Yoav Gallant for failing to rule out an Israeli government in Gaza after the war
world15 hours ago
The fund is designed to finance the production of artistic and creative works in film, music, performances, and video games
uae15 hours ago
Fico has been in hospital since Wednesday when a lone gunman shot him four times, including in the abdomen
world15 hours ago