The idea of undergoing the procedure was 'mentally and emotionally draining', the longtime Abu Dhabi resident said, but doctors eased her worries
Gold prices fell in the UAE and worldwide on Wednesday morning as the prospect of aggressive rate hikes by the US Federal Reserve sent benchmark Treasury yields to two-year highs, reducing the appeal of the precious metal.
Spot gold was down 0.12 per cent at $1,812.29 per ounce, as of 9.10 am UAE time.
In the UAE, the yellow metal price dropped one dirham per gram on Wednesday as compared to Tuesday’s close of the market.
The Dubai Gold and Jewellery Group data showed 24K opening at Dh219.25 per gram on Wednesday, down from last night’s close of Dh220.25. Among the other variants, 22K opened at Dh206.0 per gram, 21K at Dh196.75 and 18K at Dh168.5.
"We seem to be coiling up for some kind of breakout, likely on the downside, as the handoff occurs where inflation expectations start to slow down while nominal rates shift up around expectations for central bank action and that starts to really bid up real yields," said Ilya Spivak, currency strategist at DailyFX.
Edward Moya, senior market analyst at Oanda, said overall, gold prices are clearly hanging in there given that Treasury yields have skyrocketed this month.
“Gold is in for a choppy period, but the medium-term outlook remains bullish if prices can hover around the $1,800 level. Gold will remain an inflation hedge for much of Latin America and the emerging world,” added Moya.
waheedabbas@khaleejtimes.com
The idea of undergoing the procedure was 'mentally and emotionally draining', the longtime Abu Dhabi resident said, but doctors eased her worries
The ruins in the middle of Pantabangan Dam in Nueva Ecija province are a tourist draw, even as the region swelters in extreme heat
This covers traffic violations incurred until 2023
Friday's polling will be held for 88 of the total 543 seats in the lower house or Lok Sabha of Parliament with 160 million people eligible to vote
The bank’s liquidity profile remains strong as evidenced by an advances to stable resources ratio of 76% and an eligible liquid asset ratio of 16%, both comfortably above regulatory thresholds
Binghatti Hills is set to become the most expansive development within the community
Temperature will reach up to 36ºC and 33ºC in Abu Dhabi and Dubai, respectively
Facing the reality of such a health challenge at the age of 32 was unimaginable for her