The public bus service runs from Sunday to Thursday at an interval of 30 minutes, and 20 minutes on Friday and Saturday
Gold prices inched higher on Tuesday morning after falling more than one per cent in the previous session.
Spot gold was up 0.15 per cent at $1,781.1 per ounce at 9.25 am UAE time.
In the UAE, the 24K gold price rose half a dirham to Dh215.75 per gram at the opening of the markets on Tuesday. While 22K, 21K and 18K were trading at Dh202.75, Dh193.5 and Dh165.75 per gram, respectively.
Vijay Valecha, chief investment officer at Century Financial, said gold traders will also have to monitor the dynamics of US Treasury markets.
“The yield of two-year Treasuries has stabilised near 3.25 per cent and is trying to gain additional upside momentum. In case, if it manages to settle above 3.30 per cent, it will have a good chance to get to the test of the yearly highs near 3.45 per cent, which could make gold weaker,” added Valecha.
He sees gold facing resistance at $1,802 and $1,822, while wupport at $1,755 and $1,726.
David Song, strategist at dailyFX, said it remains to be seen if the Federal Open Market Committee (FOMC) Minutes will influence the price of gold as the slowdown in the US Consumer Price Index (CPI) dampens bets for another 75bp rate hike, but hints of a looming shift in the Fed’s approach for combating inflation may prop up the precious metal as the central bank appears to be on track to wind down its hiking-cycle over the coming months.
waheedabbas@khaleejtimes.com
ALSO READ:
The public bus service runs from Sunday to Thursday at an interval of 30 minutes, and 20 minutes on Friday and Saturday
Employees can check if they have incurred the penalty via the MoHRE app, website or business service centres
The temblor was recorded in the country's southern region, according to GFZ
The Ministry of Industry and Advanced Technology (MoIAT) has announced the adoption of the new Green ICV criteria
The agency earlier released details of its investigation into the online money laundering case linked with the Mahadev Online Book Betting app
'Cranes drive the success of any construction project. It’s a critical component,' says founder and CEO of Mycrane
PMI data shows output rises at stronger rate in response to sales upturn