Loading ...
Tuesday, May 04, 2021
Khaeej Times - Gold could hit $1,875, if it crosses $1,800 barrier
By Vijay Valecha in 'Century in News'
Vijay Valecha, Special to Khaleej Times May 4, 2021
Gold prices were trading higher on Tuesday morning, hitting more than a two-month high with analysts seeing precious metal touching $1,875 an ounce if it manages to break the $1,800 barrier. Spot gold was up 1.0 per cent or $17.70 an ounce to $1,786.71 per ounce by 9.15am UAE time. It had hit a high of $1,797.75 an ounce on Monday evening. (Check out the latest gold/forex rates in UAE) In Dubai, 24K retail price stood at Dh216.5 per gram on Tuesday morning, as compared to Dh215 on Monday morning. Dubai Gold and Jewellery Group data showed that the 24K price closed at Dh217 per gram on Monday. Among other variants of the precious yellow metal, 22K was trading at Dh203.5, 21K at Dh194.25, and 18K at Dh166.5 per gram. "The reversal in the dollar is weighing on gold a bit, we've seen the dollar strengthen despite the Feds near-term dovish rhetoric," said DailyFX currency strategist Ilya Spivak. "On the top side, immediate resistance for gold lies at $1,800 per ounce. If we can break that, we open the door for $1,850 or $1,875 as a follow on levels in the immediate."Source:
Khaleej Times
__1109557072.jpg)
__335266436.jpg)
__309084346.jpg)
__1021887954.jpg)
__621562604.jpg)
Regulated by SCA
Century Financial Consultancy LLC
Dubai Polo & Equestrian Club
The Official Partner of
Dubai Polo & Equestrian Club
Reach us:
-
Dubai
6th Floor, Emaar Square Building 4,
Downtown, Dubai, P.O. Box 65777,
Dubai, United Arab Emirates -
Abu Dhabi
Office 3014, 30th Floor
Tamouh Tower, Building 12, Marina Square,
Al Reem Island, Abu Dhabi - +971 (4) 356 2800
- info@century.ae
Disclaimer: Trading in financial products carries risk. Trading in leveraged Over-The-Counter (OTC) Derivative products (including Contracts for Difference (CFDs) and spot foreign exchange contracts) involves a significant risk of loss which can exceed deposits and may not be suitable for all investors. OTC Derivative products / CFDs are complex financial instruments that do not confer any claim or right to the underlying financial instrument. Transactions in these instruments are very risky, and you should trade only with the capital you can afford to lose. Before deciding to trade on these products, you should consider your investment objectives, risk tolerance and your level of experience. Accordingly, you should ensure that you understand the risks involved and seek independent advice from professionals, if necessary.
Century Financial Consultancy LLC (CFC) is duly licensed and regulated by the Securities and Commodities Authority of UAE (SCA) under license numbers 20200000028 and, 20200000081 to practice the activities of Trading broker in the international markets, Trading broker of the OTC derivatives and currencies in the spot market, Introduction, Financial Consultation and Financial Analysis, and Promotion. CFC is a Limited Liability Company incorporated under the laws of UAE and registered with the Department of Economic Development of Dubai (registration number 768189). CFC has its registered office at 601, Level 6, Building no. 4, Emaar Square, Downtown, Dubai, UAE, PO Box 65777.
Any content available on our website is presented solely to provide information and educate visitors. Under no circumstances is any of this content meant to be construed as an offer, recommendation, advice, or solicitation to buy or sell securities or other financial products.
This website's information is not intended for use by anybody residing outside UAE or where such use would violate local laws or regulations.
