iPhone | iPad
Android
Huawei
To assist Indian nationals at the Dubai airport, the Consulate General of India in Dubai has operationalised emergency helpline numbers
KT APPDOWNLOAD
UAE: Gold prices inch up, 22K opens at Dh207 per gram
Spot gold was trading at $1,819.23 per ounce at 9.05am UAE time.
Reuters
Gold prices were slightly up on Monday morning as market participants gauged the global economic policy outlook, with inflationary hedge demand countering hawkish comments from US Federal Reserve officials that kept the dollar and Treasury yields supported.
Spot gold was trading at $1,819.23 per ounce at 9.05am UAE time.
In the UAE, the precious metal inched up on Monday morning with 24K trading at Dh220.5 per gram, up Dh0.25 from its previous close.
Among the other variants of the precious metals, 22K opened at Dh207.0 per gram, 21K at Dh197.5 and 18K at Dh169.25.
"Gold has been locked in a sideways consolidation for a while now, the market is still undecided on where it's going," OCBC Bank economist Howie Lee said, adding that "there's still some lingering demand as an inflation hedge."
Traders are now awaiting speeches from Fed officials this week ahead of the January 25-26 policy meeting, but there have been more than enough hawkish comments to see the market almost fully price in a first interest rate hike for March and rates of 1.0 per cent by the year-end.
waheedabbas@khaleejtimes.com
More news from
The Argentine goalkeeper made the save that sent his side through to their first major European semi-final since 1982 after penalty chaos against Lille
After the evacuation, an area was set up to provide food, water, and medical assistance to the citizens residing in the community
The Red beat Italian side Atalanta in the second leg quarter-final but lost 3-1 on aggregate as Leverkusen advance to semis despite 1-1 draw with West Ham
US equity futures and Asian shares declined while safe haven demand lifted US Treasuries
Passengers reaching their final destination without their baggage should contact the airport airline representative or contact their airline call centre, DXB said
Spot gold was trading at $2,384.14 per ounce at 9.25 am UAE time, up 0.17 per cent
Passengers already in Dubai and in transit will continue to be processed for their flights, the airlines said
