International passenger traffic increased by 20 per cent in March 2024
business3 days ago
Gold prices dropped slightly in the UAE at the opening of the markets on Thursday after jumping Dh3.50 on Wednesday.
According to Dubai Jewellery Group Data, the 24K variant of the precious metal was trading at Dh235.50 per gram on Thursday morning as compared to last night’s close of Dh236 per gram. Its variants 22K, 21K and 18K were trading at Dh218.25, Dh211.25 and Dh181 per gram, respectively, at 9am, UAE time.
Spot gold was steady at $1,944.92 per ounce by 9.17am, local time.
[Editor's Note: For real-time gold rates, click the widget below or visit KT's dedicated Trading News page here.]
"Traders are waiting to see the full news cycle develop a more comprehensive view on inflationary pressures," Michael Langford, chief investment officer at Scorpion Minerals, told Reuters.
Nick Cawley, senior strategist at dailyFX, said the Fed is looking closely at the jobs market and any further signs of weakness will allow the US central bank more time to leave interest rates unchanged, and potentially bring forward the first rate cut.
“Gold is now back in a prior zone of support and is looking to break higher,” he said.
ALSO READ:
International passenger traffic increased by 20 per cent in March 2024
business3 days ago
Core taxi segment revenue up 15% year-on-year
business3 days ago
The precious metal has climbed approximately 12% this year
business3 days ago
The company generated revenues of $840 million
business4 days ago
Mobility tech platform sees 30% rise in hires
business4 days ago
Avanta seeks to tap into Middle East’s booming beauty market industry
business4 days ago
Ramesh Cidambi has been named as new Managing Director with Salah Tahlak as Deputy Managing Director
business4 days ago
The group’s hospitals continued to be a core driver of its performance, with net profit from these businesses jumping more than 31 per cent to Dh137 million
business4 days ago