Latest news with #Dh308.25
Khaleej Times
03-03-2025
- Business
- Khaleej Times
Dubai: Gold prices rise Dh1 per gram in early trade, start the week positively
Gold prices rose Dh1 per gram at the opening of the markets in Dubai on Monday. At 9am UAE time, 24K rose to Dh345.5 per gram, up from Dh344.5 per gram at the close of the markets over the weekend. Among the other variants, 22K, 21K and 18K also opened higher at Dh321.5, Dh308.25 and Dh264.25 per gram, respectively. Globally, spot gold was trading at $2,866.36 per ounce, up 0.24 per cent at 9.07 am UAE time. The yellow metal prices have been dictated by the US Federal Reserve's policy around interest rates, US President Donald Trump's policies around tariffs and central banks' buying of gold. Gold has not been a direct target of tariffs, but market reactions to trade uncertainty have driven a significant shift in trading behaviour and impacted the gold price. Gold prices hit an all-time high last month as it breached the $2,950 level for the first time. 'While a pullback after having flirted with the $3,000 level is healthy, the outlook for gold remains positive on the back of tense global geopolitical environment,' said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Alex Kuptsikevich, chief market analyst at the FxPro, said investors moved into long-term US Treasuries in response to the many initiatives by the Trump administration to reduce the national budget. 'The potential pullback in gold allows us to consider the $2,800 area as a potential target for the current downside momentum from 2,955,' he said.
Khaleej Times
06-02-2025
- Business
- Khaleej Times
Dubai: Gold prices hit new all-time high, continue to set records
Gold prices continue to set new records every day as 22K hit a new all-time high of Dh321.5 per gram in Dubai on Thursday morning. At the opening of the markets in Dubai on Thursday, 24K jumped Dh1 per gram to Dh345.75 while 22K rose Dh0.75 to Dh321.5 per gram. Among the other variants of the yellow metal, 21K and 18K opened higher at Dh308.25 and Dh264.25 per gram, respectively. Globally, gold was steady at $2,868.73 per ounce on Thursday morning. [Editor's Note: For real-time gold rates, click widget below or visit KT's dedicated Trading News page here.] Stay up to date with the latest news. Follow KT on WhatsApp Channels. Samer Hasn, senior market analyst at said gold's consecutive gains come amid escalating trade wars between the US and China, which are likely to deepen concerns about the economies of both countries. 'These consecutive peaks for gold also coincide with declining Treasury yields and lacklustre US stock market performance, reinforcing the safe haven demand hypothesis, which was also after a larger-than-expected decline in job openings in December,' he said. 'These factors add to the uncertainties surrounding the global economy and geopolitical realities,' he added. Hasn elaborated that the trade war now appears to be the most significant factor fuelling uncertainty, which in turn drives demand for safe havens. 'Concerns are growing as the trade war is expected to escalate further, although it began less severely than expected with the inauguration of Donald Trump.'
