Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
Global gold prices opened higher on Monday morning ahead of the US Federal Reserve meeting this week.
Spot gold opened 0.1 per cent higher at $1,779.36 per ounce on Monday morning. US gold futures rose 0.1 per cent to $1,780.10 per ounce. (Check out the latest gold/forex rates in UAE)
In Dubai, retail gold prices rose on Monday morning, as 24K increased Dh0.50 per gram to Dh215.75.
While 22K, 21K, and 18K were priced at Dh202.75, Dh193.25, and Dh165.75 per gram, respectively.
“As for gold prices, we see substantial recovery in price, and it seems like traders want to push the metal price higher,” said Naeem Aslam, chief market analyst at AVATrade.
“For the past few days, we did see some weakness creeping in for the precious metal mainly because of the strong US economic numbers; however, those concerns aren’t there today, and gold prices are taking advantage of a weaker dollar index,” he said.
The dollar index nursed losses against its rivals on Monday, making gold less expensive for other currency holders.
India's physical gold demand faltered last week, as strict restrictions to contain the rapid spread of Covid-19 kept buyers away.
“Investors are primarily concerned about the serious rise in coronavirus cases in India and its impact on feeble global economic recovery. There is no doubt that the Coronavirus situation is out of control in India as over 350,000 new Covid-19 cases were registered on Sunday,” said Aslam.
-waheedabbas@khaleejtimes.com
Pecker is a key witness in the case against the former US president, who is accused of falsifying business records to cover up hush-money payment
The oil and gas conglomerate and Fifa, the world governing body, sign major sponsorship agreement
Toomaj Salehi risks being hanged after the conviction on the Shariah charge of "corruption on Earth" by a Revolutionary Court
Aid groups warn any invasion would add to already-catastrophic conditions for Gaza's 2.4 million people
The American they will face Australia and Serbia on July 15 and July 17 as part of their preparation for the Paris Olympic Games
The leaders emphasise that the deal to release the hostages would bring an immediate and prolonged ceasefire in Gaza
Dubai-based Sumit Augustine has had a philosophical approach towards spending
The regional upswing also defies oil production cutbacks