iPhone | iPad
Android
Huawei
Precious yellow metal price outlook is uncertain in the medium to long term due to geopolitical tensions and global economic slowdown
Markets6 days ago
KT APPDOWNLOAD
Dubai gold prices up, 24K rises above Dh210 per gram
Waheed Abbas - Greenback weakens and US Treasury yields also drop
Gold prices rose in Dubai on Tuesday morning due to the weakening of the dollar as well drop in US Treasury yields.
The retail gold price jumped by one dirham on Tuesday morning, as compared to Monday evening price in line with an increase in global rates of the precious yellow metal.
The 24K retail gold price rose from Dh209.25 on Monday evening to Dh210.25 per gram on Tuesday morning. While 22K, 21K, and 18K prices also increased by Dh1 to Dh197.5, Dh188.5, and Dh161.5 per gram, respectively.
Globally, spot gold price was up 0.3 per cent at $1,733.31 per ounce, as of 0117 GMT. Gold futures were up 0.4 per cent at $1,735.10 per ounce.
Naeem Aslam, the chief market analyst at Ava Trade, said $1,700 an ounce price level remains as the first resistance, and then the market is likely to see the price moving towards the $1,750 mark in the short term.
The greenback hit an almost two-week low versus a basket of rival currencies, while US Treasury yields also fell because investors paused recent selling of government bonds.
-waheedabbas@khaleejtimes.com
Photo: Ryan Lim/KT
More news from Markets
Falling interest rates led to many more savers investing in stocks, real estate and cryptos, leading to price surges across these asset classes
Markets1 week ago
The index tumbled 5.8 per cent, its biggest intraday fall since March 2020, dragged down by a 8.5 per cent plunge in the UAE’s largest lender First Abu Dhabi Bank
Markets1 week ago
The inaugural issuance of the local currency treasury bonds program witnessed a strong appetite from investors in the region and globally being 6.3 times oversubscribed during the first auction that successfully concluded this week
Markets1 week ago
This is the first time the virtual currency has plunged so low
Markets1 week ago
The oil giant was valued at $2.42 trillion based on the price of its shares at close of market
Markets1 week ago
Experts say rupee will remain under pressure until there is political stability
Markets1 week ago
Forex dealers say the greenback is being sold above Rs189 in the open market
Markets1 week ago