Loding Loading ...
X
Century Financial Consultancy LLC ("Century") does not offer investment advisory or portfolio management services nor guarantees investment returns. We do not accept or make payments in cryptocurrency or digital currency. Our official website is www.century.ae. Beware of fraudulent companies or websites posing as Century. We are not responsible for any losses from using fake websites or entities. Trading in financial markets involves a significant risk of loss which can exceed deposits and may not be suitable for all investors. Before you start, please ensure you fully understand the risks involved.
  • AR AR
Century Financial Consultancy
Back

Tuesday, March 13, 2018

Latest Dubai gold rates: Prices starting to edge higher

By Vijay Valecha in 'Century in News'

Latest Dubai gold rates: Prices starting to...

Analysts forecast precious metal to break $1,360 level

Gold jewellery in the UAE may be cheaper today compared to the last few weeks, but prices are again starting to go back up, latest data show.

The bullion inched higher on Monday and analysts are expecting the trend to continue for the rest of the week, so gold fans in the UAE will again have to pay more out of their pockets when shopping for new jewellery.

As of  11.30am, 24-karat gold was retailing at Dh159.75 per gram, up by .25 fils from early Tuesday morning. Compared to the last few weeks, however, the latest price is cheaper by Dh1 per gram, with 24K trading as much as Dh160.75 last February 27.

According to Vijay Valecha, chief market analyst at Century Financial Brokers, the bullion is set to gain more strength this week, and prices will again break above $1,360 an ounce.

“Gold is broadly trading in the range of $1,310 to $1,360 and we could see gold moving upwards to try and break the $1,360 barrier,” Valecha told Gulf News.

“A break above the $1,360 on a closing basis will trigger a new wave of buying,” Century Financial said in a report.

As of early Tuesday (0057 GMT), spot gold had gone up 0.1 per cent to $1,324.08 an ounce, according to Reuters.

Source: 

View More