Certificate needs to be presented at check-in for inspection prior to flying from Abu Dhabi, says airline
Gold prices edged up in Dubai on Tuesday as the US dollar eased, although an improvement in risk appetite after efforts by regulators to contain worries over the global banking system limited the safe-haven metal’s appeal.
Spot gold was up 0.1 per cent at $1,959.47 per ounce as of 9.20 am UAE time.
In Dubai, the 24K gold price jumped one dirham per gram to Dh237.0 at the opening of the markets on Tuesday. Meanwhile, 22K, 21K and 18K were trading at Dh219.5, Dh212.5 and Dh182.0 per gram, respectively.
Gold prices slipped more than one per cent on Monday as investors scaled back on safe-haven trading in favour of riskier assets after First Citizens BancShares said it would take on the deposits and loans of failed Silicon Valley Bank.
Naeem Aslam, chief investment officer, Zaye Capital Markets, said some buyers are returning to the market after the sell-off witnessed over the past few days.
“The sell-off in the past few days has brought buyers back into the market, while gold traders know that the main event that is going to move the needle will be the US NFP (nonfarm payroll) data, which is due next month.
Having said that, traders are keeping close tabs on all the US economic data, and today’s US Consumer Confidence number is likely to bring higher volatility for the metal. Consumer confidence is expected to drop, which would force the Fed to stop raising the interest rate,” said Aslam.
ALSO READ:
Certificate needs to be presented at check-in for inspection prior to flying from Abu Dhabi, says airline
Among other variants of yellow metal, 22K opened at Dh246.25, 21K at Dh238.25 and 18K at Dh204.25 per gram
He was in charge of the cash office at a branch of the hypermarket in Abu Dhabi
From ordering the impromptu release of prisoners by sunset to paying for the cancer treatment of a woman abandoned by family, the UAE leader's generosity is his legacy on Zayed Humanitarian Day
Experts believe a ban could be detrimental and may not suitably prepare children to make the right choices in future
Some money-wise residents have also come up with strategies like a three-day shopping rule to cut down on impulsive purchases
UAE enforces strict laws against the spread of rumours and false news, imposing penalties of at least 1 year of jail and fine of Dh100,000
Mumbai was the fastest-growing billionaire capital in the world, adding 26 in the year