Latest news with #Dh313.75
Khaleej Times
06-03-2025
- Business
- Khaleej Times
UAE: Gold prices recover, jump Dh2 per gram in early trade
Gold prices jumped Dh2 per gram at the market opening in Dubai on Tuesday as yellow metal traded above $2,910 per ounce. At 9am UAE time, 24K jumped to Dh351.5 per gram on Thursday, up from Dh349.5 per gram at the close of the markets on Wednesday. Among the other variants, 22K, 21K and 18K opened higher at Dh327, Dh313.75 and Dh268.75 per gram, respectively. Globally, gold was steady at $2,917.17 per ounce at 9.07am UAE time. Bas Kooijman, CEO and asset manager of DHF Capital SA, said gold prices continued to recover as investors sought safe-haven assets while they monitored global trade developments. 'US President Donald Trump's newly imposed tariffs on goods from Mexico, Canada and China prompted swift retaliatory measures and fuelled growth concerns. Trade tensions could bolster gold's appeal as a hedge against uncertainty. However, they could also lead to inflationary pressures, prompting the Federal Reserve to maintain a cautious stance and hold interest rates for an extended period, which could limit gold's rally,' said Kooijman. Beyond trade, he said, geopolitical risks will also play a crucial role in shaping market sentiment. 'Ongoing uncertainty surrounding the Russia-Ukraine conflict could fuel a risk-off sentiment among traders, which could sustain gold's upward trajectory in the short term,' said CEO of DHF Capital.
Khaleej Times
13-02-2025
- Business
- Khaleej Times
UAE: Gold prices stay high as global rates trade above $2,900
Gold prices continued to trade higher in Dubai on Thursday morning as global prices rose above $2,900 again. At 9am UAE time, the 24K variant of the yellow metal opened at Dh351.75 per gram and 22K at D327.25 per gram. Among the other variants, 22K and 18K opened at Dh313.75 and Dh269 per gram, respectively. Globally, gold was trading at $2,920.52 per ounce, up 0.64 per cent on Thursday morning. Dr Salem Alremeithi, CEO of SHR Capital, said gold's upward trajectory continues to find support from increased safe-haven demand, particularly following US President Trump's announcement of aggressive tariff measures. 'The prospect of additional trade levies has heightened concerns about a potential trade war, further bolstering gold's appeal as a safe-haven asset. Furthermore, escalating geopolitical tensions have provided additional support for gold prices, notably Israel's recent warning about terminating the Gaza ceasefire,' he said. Alremeithi elaborated that the precious metal's positive outlook is additionally reinforced by the accommodative monetary policies adopted by major central banks worldwide, coupled with their sustained gold-purchasing activities.
