Latest news with #RaniaGule
Khaleej Times
6 days ago
- Business
- Khaleej Times
Dubai: Gold prices drop after hitting nearly 4-week high
Gold prices dropped in Dubai on Wednesday morning after hitting a nearly four-week high on Tuesday. The 24-carat variant of the precious metal was trading at Dh404.5 per gram, down from around Dh406 per gram yesterday as it jumped over Dh10 to hit a nearly four-week high. Similarly, 22-carat, 21-carat and 18-carat dropped to Dh374.5, Dh355 and Dh307.75 per gram, respectively. Spot gold was steady at $3,354.59 per ounce, up 0.07 per cent, as traders were jittery about the US-China trade deal. Rania Gule, senior market analyst for Mena at said gold is currently experiencing notable volatility, with prices touching levels near $3,400 per ounce before retreating slightly at the start of trading on Tuesday. 'This pullback does not necessarily reflect a weakening of bullish momentum, but rather a short technical pause in an overall upward trajectory still fuelled by several key factors, most notably escalating trade tensions, geopolitical developments, and potential shifts in US Federal Reserve policy. Gold continues to hold strong appeal as a hedging asset, and the current declines may represent medium-term buying opportunities rather than the start of a downward reversal,' she said. 'The pivotal event sparking fresh market anxiety was former President Donald Trump's announcement of plans to double tariffs on steel and aluminium imports to 50 per cent, a move that has reignited fears of a full-blown trade war with China and potentially other trading partners. "Markets are not only reacting to the numbers but also to the political messaging behind such actions — this is where the real risk lies. The uncertainty surrounding international trade relations is naturally boosting demand for gold as a safe-haven asset, even if prices temporarily dip due to fluctuations in the US dollar," added Gule.
Khaleej Times
29-04-2025
- Business
- Khaleej Times
Dubai: Gold prices slip in early trade on Tuesday
Gold prices slipped at the opening of the markets on Tuesday after touching Dh400 per gram on Monday. The Dubai Jewellery Group data showed 24K trading at Dh399.0 per gram on Tuesday morning, down from Dh400 per gram at the close of the markets on Monday. Among the other variants, 22K, 21K and 18K slipped to Dh369.5, Dh354.25 and Dh303.75 per gram, respectively. Globally, the precious metal was trading at $3,311.35 per ounce, down 0.74 per cent. It previously slipped below $3,300. Rania Gule, senior market analyst at said the yellow metal pullback reflects the market's reaction to global economic variables, particularly concerning the trade relations between the United States and China. 'Growing optimism about the improvement of these relations, following positive comments from US Agriculture Secretary Brooke Rollins about daily talks between the two countries regarding tariffs, led investors to reduce their positions in gold as a haven. This shift in sentiment has negatively impacted investor appetite for safe-haven assets like gold, causing it to drop below the $3,300 level, a noticeable decline after last week's record highs,' she added. 'However, gold remains a haven for investors during times of economic uncertainty, suggesting that this decline may be temporary. While the trade relationship between the US and China is a key driver of risk appetite in the markets, there are still concerning factors at the global economic level that could support gold's long-term stability,' added Gule.
Wall Street Journal
29-04-2025
- Business
- Wall Street Journal
Gold Edges Lower as Traders Assess Mixed Signals
2347 GMT — Gold edges lower in the early Asian session as traders assess mixed signals from Treasury Secretary Bessent on Monday. Bessent said in an interview on CNBC that it's 'up to China' to de-escalate trade tensions with the U.S. At the same time, Bessent also suggested the U.S. will probably strike an early trade deal with India. 'However, gold remains a haven for investors during times of economic uncertainty, suggesting that this decline may be temporary,' Rania Gule says in an email. President Trump's announcement in April of broad tariffs boosted worries over slowdown in U.S. economic growth, which could increase demand for gold, the senior market analyst adds. Spot gold is 0.2% lower at $3,337.64/oz. (
Zawya
21-03-2025
- Business
- Zawya
Mideast Stocks: Banks and industrial stocks drag Dubai lower, Abu Dhabi flat
Dubai's index ended lower on Friday, with banking and industrial stocks driving losses as rising geopolitical tensions dampened market sentiment, while the Abu Dhabi index closed almost flat. Regional geopolitical tensions have escalated this week, after Israel resumed airstrikes and ground operations in Gaza, effectively ending a two-month-old ceasefire. Dubai's main index declined 0.6%, hitting a near-three-month low, dragged lower by a 4% drop in Dubai Islamic Bank and a 9.8% fall in Gulf Navigation Holding. Outperforming the broader market, Emirates Integrated Telecommunications Co, (Du), rose 0.9% after Bloomberg News reported that Abu Dhabi's Mubadala Investment Company could sell at least part of its $1 billion stake in the firm. Dubai's index broke through its support level, which had held for the past two weeks, as recent negative sentiment surrounding global markets has weighed on stock market performance, Rania Gule, Senior Market Analyst at - MENA, said. However, fundamentals are still supportive, she said. Dubai and Abu Dhabi extended losses to a fifth straight week, registering declines of 0.8% and 0.5% respectively, according to LSEG data. Abu Dhabi's benchmark index closed almost flat, up 0.004%, supported by a 1% rise in Emirates Telecommunications Group (E&), and a 1.7% increase in shares of First Abu Dhabi Bank, the biggest lender by assets. Agthia Group, which appointed Salmeen Obaid Al Ameri as new MD and CEO on Friday, gained 0.9%. Oil prices - a key catalyst for the Gulf region's financial markets - fell slightly on Friday but were heading for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the OPEC+ output plan raised expectations of tighter supply. Brent crude was down 0.5% to $71.64 a barrel by 1135 GMT. ABU DHABI up 0.004% to 9,368 points DUBAI down 0.6% to 5,100 points
Reuters
21-03-2025
- Business
- Reuters
Banks and industrial stocks drag Dubai lower, Abu Dhabi flat
March 21 (Reuters) - Dubai's index (.DFMGI), opens new tab ended lower on Friday, with banking and industrial stocks driving losses as rising geopolitical tensions dampened market sentiment, while the Abu Dhabi index (.FTFADGI), opens new tab closed almost flat. Regional geopolitical tensions have escalated this week, after Israel resumed airstrikes and ground operations in Gaza, effectively ending a two- month-old ceasefire. Outperforming the broader market, Emirates Integrated Telecommunications Co ( opens new tab, (Du), rose 0.9% after Bloomberg News reported that Abu Dhabi's Mubadala Investment Company could sell at least part of its $1 billion stake in the firm. Dubai's index broke through its support level, which had held for the past two weeks, as recent negative sentiment surrounding global markets has weighed on stock market performance, Rania Gule, Senior Market Analyst at - MENA, said. However, fundamentals are still supportive, she said. Dubai and Abu Dhabi extended losses to a fifth straight week, registering declines of 0.8% and 0.5% respectively, according to LSEG data. Abu Dhabi's benchmark index closed almost flat, up 0.004%, supported by a 1% rise in Emirates Telecommunications Group ( opens new tab (E&), and a 1.7% increase in shares of First Abu Dhabi Bank ( opens new tab, the biggest lender by assets. Agthia Group ( opens new tab, which appointed Salmeen Obaid Al Ameri as new MD and CEO on Friday, gained 0.9%. Oil prices - a key catalyst for the Gulf region's financial markets - fell slightly on Friday but were heading for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the OPEC+ output plan raised expectations of tighter supply. Brent crude was down 0.5% to $71.64 a barrel by 1135 GMT.
