iPhone | iPad
Android
Huawei
Falling interest rates led to many more savers investing in stocks, real estate and cryptos, leading to price surges across these asset classes
Markets4 days ago
KT APPDOWNLOAD
UAE: Gold prices jump nearly Dh3 as demand surges due to Ukraine crisis
Precious metal is set for the best month since May.
Reuters file
Gold prices rose on Monday morning and were set for their best monthly gain in nine months after Western countries slapped fresh sanctions on Russia for attacking Ukraine.
Spot gold rose 1.17 per cent to $1,911.22 per ounce at 9.10 am UAE time.
In the UAE, gold prices jumped nearly three dirhams per gram at the opening of the market on Thursday.
The Dubai Gold and Jewellery Group data showed 24K opening at Dh231.5 per gram, up from its Friday’s close of Dh228.75.
Among the other variants of the precious metal, 22K was trading at Dh217.5, 21K at Dh207.5 and 18K at Dh177.75 per gram.
Sanctions against Russia have been stepped up over the weekend as the war in Ukraine has escalated.
The US, EU, UK and Canada have banned a number of Russian lenders from the international payments system SWIFT and are also placing restrictions on the country’s central bank. Russian President Vladimir Putin put his country's nuclear deterrent on high alert.
ALSO READ:
The US said Putin was escalating the war with "dangerous rhetoric", amid signs that the biggest assault on a European state since World War II was not producing rapid victories, but instead generating a far-reaching and concerted Western response.
waheedabbas@khaleejtimes.com
More news from Markets
The index tumbled 5.8 per cent, its biggest intraday fall since March 2020, dragged down by a 8.5 per cent plunge in the UAE’s largest lender First Abu Dhabi Bank
Markets6 days ago
The inaugural issuance of the local currency treasury bonds program witnessed a strong appetite from investors in the region and globally being 6.3 times oversubscribed during the first auction that successfully concluded this week
Markets6 days ago
This is the first time the virtual currency has plunged so low
Markets6 days ago
The oil giant was valued at $2.42 trillion based on the price of its shares at close of market
Markets6 days ago
Experts say rupee will remain under pressure until there is political stability
Markets1 week ago
Forex dealers say the greenback is being sold above Rs189 in the open market
Markets1 week ago
Surging oil prices have also weighed heavy on the rupee with a surprise rate hike by the Reserve Bank of India last week doing little to stem capital outflows
Markets1 week ago