Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
Global gold prices were nearly stable on Thursday morning as investors raised the bet that the Federal Reserve would tighten its policy earlier than anticipated following better-than-expected US consumer price data.
Spot gold price was trading at $1,790.82 per ounce by 9.10 am UAE time, down by 0.06 per cent it had hit the highest level since September 16 at $1,795.81 on Wednesday.
In the UAE, gold prices rose on Thursday morning. The Dubai Gold and Jewellery Group data showed 24K trading at Dh217.0 per gram at the opening of the market on Thursday, up from Dh213.5 on Wednesday morning.
Among the other variants of the precious metal, 22K at trading at Dh203.75, 21K at Dh194.5 and 18K at Dh166.75.
"I expect both the US dollar and long-dated rates to resume their climb sooner rather than later and the gold rally will evaporate as quickly as it began," said Jeffrey Halley, a senior market analyst for Asia-Pacific at OANDA.
"The 100- and 200-day moving averages lie between $1,795.00 and $1,800.00 today, and I believe this zone will present a formidable barrier to further gains," he told Reuters.
"It's still the case that we'll see gold prices trend lower as the Fed tightens policy," said IG Market analyst Kyle Rodda.
waheedabbas@khaleejtimes.com
Emirati Jiu-Jitsu stars win 23 medals, athletes grab 11 medals, and People of Determination excel with 14 medals
The first of seven phases, Friday's vote covered 166 million voters in 102 constituencies across 21 states and territories
The unique showcase brings together a diverse lineup of comedians from India and Pakistan, promising an hour of non-stop entertainment
Work teams across all customs centres continued to process cargo clearance and inspections
The UN chief urges international community to work together to prevent any actions that could push the entire Middle East over the edge
This punishment sent out a message to all teams of the importance of maintaining a healthy pace throughout a match
Only 10 of Gaza's 36 hospitals are currently even partially functioning
The updated Meta AI assistant will be given more prominent billing within Meta's Facebook, Instagram, WhatsApp and Messenger apps