Tuesday, June 06, 2023
Khaleej Times - UAE: Gold prices jump Dh1.5 per gram in Dubai in early trade
By Vijay Valecha in 'Century in News'
Gold prices opened higher in the UAE on Tuesday morning in line with global rates after optimism grew among investors that the US Federal Reserve will not hike rates in June.
According to Dubai Jewellery Group data, the 24K was trading at Dh237.5 per gram at the opening of the markets on Tuesday, up Dh1.5 per gram from last night’s close of Dh236.0 per gram.
Among the other variants of the precious metal, the 22K opened higher at Dh220.0, 21K at Dh213.0 and 18K at Dh182.5 per gram.
Spot gold was trading at $1,961.09 per ounce in the morning.
The US dollar index eased 0.1 per cent as investors expect Fed to hold rates this month, making gold a more favourable bet among overseas investors.
Source:Khaleej Times