Net profit (after tax) up 32% per cent y-o-y to Dh1.45 billion
Gold price sliped below $1,800 an ounce on Thursday morning as lower US Treasury yields countered a stronger dollar after minutes from the Federal Reserve's meeting showed that the central bank is moving towards tapering its asset purchases as soon as this year.
Spot gold was trading at $1,798.41 an ounce, down 0.28 per cent, at 10am UAE time on Thursday morning,
In Dubai, 24K was trading at Dh217.75 per gram at the opening of the market. While 22K, 21K and 18K was trading at Dh204.5, Dh195.0 and Dh167.25 per gram.
Benchmark US 10-year Treasury yields dropped to their lowest since February 19, reducing the opportunity cost of holding non-interest bearing gold. However, the dollar index traded near the highest in three months versus its rivals, making gold more expensive for other currency holders.
Naeem Aslam, chief market analyst at Ava Trade, said the gold price is still holding on to its gains.
-waheedabbas@khaleejtimes.com
Net profit (after tax) up 32% per cent y-o-y to Dh1.45 billion
Goalkeeper Eisa delivered a fantastic performance against Al Hilal to help Al Ain reach the final
Volunteers of the Samantha Kerala Sunni Student Federation used the machine to navigate challenging terrain
The two sides called for calm in the Middle East in efforts to avoid military escalation while prioritising diplomatic solutions
Polls will be the largest ever in human history with over 960 million people eligible to vote
UAE business activity and business confidence remained strong
Trend Micro showcases its unified cyber security platform at Gisec
CIP leader showcases live demo of nuclear power plant at Gisec