By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Gulf PressGulf Press
  • Home
  • Gulf News
    • Saudi Arabia
    • UAE24/7
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • World
  • Business
    • Market DataLive
    • Finance
    • Economy
    • Energy
    • Crypto
    • ForexHot
    • Tech
  • Sports
  • Lifestyle
  • Videos
Search
Countries
  • Saudi Arabia
  • UAE
  • Kuwait
  • Qatar
  • Bahrain
  • Oman
More Topics
  • Technology
  • Health
  • Entertainment
  • Crypto
  • Forex
  • Stocks
Site Links
  • Business Hub
  • Trending
  • Weather
  • Customize Interests
  • Bookmarks
  • Newsletter
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Reading: UAE: Gold prices in Dubai drop over the weekend – News
Share
Notification Show More
Recent Saved
Workers in Bucharest face challenges as temperatures rise
World
Dress code guidelines for the Qatari government sector during office hours
Qatar
Court rules in favor of worker after company dismisses him for salary deductions over 6 years, awarding BD 27,000.
Bahrain
UAE to See Almost 30,000 New Millionaires in 5 Years
UAE
Proposed New Labor Law in Bahrain Targets Increasing Job Opportunities
Bahrain
Latest News
UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech
Beat the Heat This Summer with a Chill Out on Dubai Marina
World
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World
Jordan to Host Iraq in the Final Round of the Asian World Cup Qualifiers After Securing Historic Spot
Sports
Aa
Gulf PressGulf Press
Aa
  • Gulf News
  • World
  • Business
  • Entertainment
  • Lifestyle
  • Sports
  • Videos
Search
  • Home
    • Videos
    • Business Hub
    • Trending
  • Gulf
    • Saudi Arabia
    • UAE
    • Kuwait
    • Qatar
    • Bahrain
    • Oman
  • Business
    • Market Data
    • Crypto
    • Economy
    • Energy
    • Finance
    • Forex
    • Tech
  • More News
    • World
    • Lifestyle
    • Entertainment
    • Sports
Have an existing account? Sign In
Follow US
  • Terms
  • Press Release
  • Advertise
  • Contact
© 2023 Gulf Press. All Rights Reserved.
Gulf Press > Business > UAE: Gold prices in Dubai drop over the weekend – News
Business

UAE: Gold prices in Dubai drop over the weekend – News

News Room
Last updated: 2024/06/29 at 6:22 AM
News Room
Share
3 Min Read
SHARE

Gold prices in Dubai saw a slight decrease of half a dirham at the opening of the markets on Saturday. The 24K variant of gold was trading at Dh281.75 per gram, a decrease from the previous night’s close of Dh282.25 per gram. Other variants of gold, such as 22K, 21K, and 18K, opened at Dh260.75, Dh252.5, and Dh216.5 per gram respectively. Prices remained relatively stable compared to the beginning of the week.

Internationally, gold closed nearly unchanged at $2,326.73 per ounce on Friday. George Pavel, the general manager at Capex.com Middle East, mentioned that the Federal Reserve’s decision to maintain high interest rates has led to elevated US Treasury bond yields and a strong US dollar, which has put pressure on gold prices in recent weeks. The market is anticipating rate cuts starting as early as September, which could provide support for gold prices amidst ongoing uncertainty and volatility.

Traders are also keeping an eye on the upcoming US presidential debate and the release of the US Personal Consumption Expenditures (PCE) Price Index. Geopolitical tensions and political uncertainties continue to support gold’s status as a safe-haven asset. The upcoming elections in France, the UK, and the US are expected to increase risk aversion and potentially benefit gold prices, according to Pavel.

To stay updated on the latest news, individuals can follow KT on WhatsApp Channels. It is important to monitor market movements and global economic indicators, as they play a significant role in influencing gold prices. Factors such as interest rates, inflation, geopolitical events, and currency fluctuations can all impact the price of gold and should be taken into consideration when making investment decisions. By staying informed and conducting thorough research, investors can make more informed choices regarding gold trading and investment strategies.

Gold has long been considered a safe-haven asset and a popular choice for investors looking to diversify their portfolios. Its value tends to increase during times of economic uncertainty or market volatility, making it a valuable asset for hedging against inflation and protecting against financial risks. As economic conditions continue to evolve, gold prices are likely to remain sensitive to a variety of factors, including changes in interest rates, political developments, and global events.

In conclusion, gold prices in Dubai experienced a slight drop at the opening of the markets, reflecting global trends in the precious metal market. With ongoing uncertainties surrounding interest rates, geopolitical tensions, and upcoming elections, gold prices are expected to remain volatile in the near future. Investors should stay informed about market developments and economic indicators to make informed decisions regarding gold trading and investment strategies. As a safe-haven asset, gold continues to be an attractive option for investors seeking to protect and diversify their portfolios.

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.
I have read and agree to the terms & conditions
By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
News Room June 29, 2024
Share this Article
Facebook Twitter Copy Link Print
Previous Article Stocks could make an effort to surpass previous highs
Next Article Dravid hopes to be lucky third time in T20 World Cup final – India
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

235.3k Followers Like
69.1k Followers Follow
56.4k Followers Follow
136k Subscribers Subscribe
- Advertisement -
Ad imageAd image

Latest News

UAE Ranks Among Top Rugby Markets on TOD as British & Irish Lions Tour Kicks Off
Sports July 6, 2025
Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World
Tech July 1, 2025
Beat the Heat This Summer with a Chill Out on Dubai Marina
World July 1, 2025
Historic Italian City of Assisi to Host International Exhibition “Jordan: Dawn of Christianity”
World June 28, 2025

You Might also Like

Tech

Darven: A New Leap in AI-Powered Legal Technology Launching from the UAE to the World

July 1, 2025
Crypto

Bitget Celebrates Bitcoin Pizza Day by Distributing Over 5000 Pizzas in Over 20 Cities Worldwide

May 22, 2025
BusinessCrypto

Bitget Protection Fund Maintains Strength with $561 Million Average Value in April 2025

May 20, 2025
BusinessGulfUAE

Muhammad Umair Saeed: The Billionaire Tech Architect Powering AI, Drones, Blockchain & Cybersecurity from Dubai to the World

May 10, 2025
BusinessCrypto

RWA project FEXSE tokenises $600,000 Jacob & Co. luxury watch on the blockchain

April 14, 2025
Business

NTT DATA Business Solutions Expands Presence in UAE with Stronger Regional Leadership

March 28, 2025

Sustainable Moving Services: How Dubai’s Moving Companies Are Going Green

February 20, 2025
Tech

CNTXT and Oracle Strengthen AI Collaboration to Drive Innovation

February 14, 2025
//

Gulf Press is your one-stop website for the latest news and updates about Arabian Gulf and the world, follow us now to get the news that matters to you.

Quick Link

  • Privacy Policy
  • Terms of ue
  • Advertise
  • Contact

How Topics

  • Gulf News
  • International
  • Business
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our latest news instantly!

I have read and agree to the terms & conditions
Gulf PressGulf Press
Follow US

© 2023 Gulf Press. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

I have read and agree to the terms & conditions
Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?