FADX 15 Futures offer investors a new way of investing on the ADX market
Markets1 week ago
Gold prices rose on Monday morning on the back of a decline in the US dollar.
Spot gold rose 0.52 per cent to $1,855 per ounce by 9.10am UAE time.
In the UAE, 24K gold price rose Dh0.75 per gram at the opening of the market on Monday to trade at Dh224.5 per gram as compared to last week’s close of Dh223.75.
Among the other variants of the yellow metal, 22K opened at Dh211.0 per gram, 21K at Dh201.25 and 18K at Dh172.5.
"The jury is still out as to whether gold has weathered the storm in the medium term, or is (it) merely rallying in response to a sustained pullback by the US dollar," said Jeffrey Halley, senior analyst at Oanda.
The dollar index began the week on the back foot, following its first weekly loss in nearly two months, as investors cut bets on more dollar gains from rising US rates and hoped that easing lockdowns in China can aid global growth.
"Before turning structurally bullish, I would need to see gold hold onto its recent gains in the face of dollar strength, and not dollar weakness," Halley said.
waheedabbas@khaleejtimes.com
FADX 15 Futures offer investors a new way of investing on the ADX market
Markets1 week ago
Global oil benchmark Brent crude futures fell 0.91 per cent to $115.17 per barrel
Markets1 week ago
Spot gold was down 0.04 per cent at $1,838.45 per ounce as of 9.15am UAE time
Markets1 week ago
The dollar index fell 0.30 per cent to 104.38
Markets1 week ago
Spot gold was trading at $1,842.76 per ounce at 9.30am UAE time, up 0.22 per cent
Markets1 week ago
Saudi Arabia’s benchmark index slid 4.4 per cent, its biggest intraday fall since November 2021, as stocks fell across the board including oil behemoth Saudi Aramco, which retreated four per cent
Markets1 week ago
The south Asian nation currency is expected to remain under pressure as the greenback is in high demand in the market due to uncertainty over political and economic crises
Markets1 week ago
Investors worry that Fed rate hike could have adverse effects on economic growth
Markets1 week ago