iPhone | iPad
Android
Huawei
Earlier, NCM had issued yellow alert for rain, wind and dust from 1.30pm to 8pm today
KT APPDOWNLOAD
UAE: Gold prices surge past Dh295 per gram
Globally, spot gold was trading at $2,433.74 an ounce, up 0.46 per cent
Gold prices jumped further in UAE on Tuesday afternoon in line with the rise in global rates, surpassing Dh295 per gram.
The 24K variant of the yellow metal jumped to Dh295.5 per gram on Tuesday afternoon, rising by Dh2.75 per gram during the first half of the day.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Among the other variants, 22K, 21K and 18K rose to Dh273.75, Dh265.0 and Dh227.0 per gram, respectively.
Globally, spot gold was trading at $2,433.74 an ounce, up 0.46 per cent. It reached $2,443 an ounce earlier in the day.
Marc Pussard, head of risk at APM Capital, said gold prices gained were aided by hopes for interest rate cuts from the Federal Reserve as traders await more comments from Fed officials to gauge the timing of those cuts.
Wael Makarem, financial markets strategist lead at Exness, said the US inflation suggested the Federal Reserve might ease monetary policy, prompting a rally in gold.
“The soft June consumer price index and the broader trend of disinflation have led market participants to fully anticipate a US interest rate cut in September, which could help strengthen gold,” he said, adding that attention is not focused on the upcoming release of US retail sales data on Tuesday.
Furthermore, US political uncertainty, amplified by the assassination attempt on former President Donald Trump, has increased market concerns and may further support demand for the precious metal. Additionally, economic concerns in China, marked by slower-than-expected growth in the second quarter, could also support a positive near-term outlook for gold.
ALSO READ:
More news from UAE
Hanna Karen Arroyo Leyva had put out a plea on social media groups after her 34-year-old brother went for a walk on Sunday morning and didn’t return
The shower is expected to produce up to 8 meteors per hour at their peak during the early morning
He was accorded a ceremonial welcome after landing in the country's capital
Participants will be able to pitch live at the third edition of the 1 Billion Followers Summit taking place from 11 to 13 January, 2025
The establishment was located in the city's Mafraq industrial area
The outdoor destination is home to over 3,000 animals representing 78 mammal species, 50 varieties of reptiles, and 111 kinds of birds
Dubai welcomed 10.62 million tourists in the first seven months of 2024, an 8% increase year-on-year