Indian currency loses sheen against dirham to dip at 20.4
Indian currency loses sheen against dirham to dip at 20.4
Weaker greenback and falling US treasury yields appear to fuel the rise in gold prices
Globally, spot gold inched down 0.24 per cent.
Greenback weakens and US Treasury yields also drop
Precious metal is expected to trade between Dh203 and Dh217 in Dubai this week
In Dubai, 24K retail gold price rose from Dh203.5 on Wednesday to Dh207.5 on Thursday.
Bids received for bonds at $5 billion, reflecting strong interest from global investors
Traders expect higher demand for dollars due to the financial year end in India.
Many buying gold bars for investment, but major demand still in jewellery.
The 24k gold price will trade between Dh203 and Dh215 this week.