1 day Ago
Gold prices fell further at the opening of the markets in Dubai on Wednesday in line with global prices ahead of the interest rate cuts by the US Federal Reserve later today. At 9am, the 24K variant of the yellow metal was trading at Dh311 per gram, down Dh0.75 from last night’s close.
Among the other variants, 22K, 21K and 18K opened lower at Dh288, Dh278.75 and Dh239.0 per gram, respectively.
After yellow metal hit an all-time high on Monday with 24K reaching Dh313.5 per gram, today is the second consecutive day that the yellow metal opened at lower rates. It has lost Dh2.
5 since hitting the peak on Monday. Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Globally, spot gold was trading at $2,568.49 per ounce, down 0.21 per cent at 9.
10am. Marc Pussard, head of risk, APM Capital, said gold prices charged to a record high on Monday as a weaker dollar and the prospects of aggressive US monetary policy easing boosted non-yielding bullion's appeal..
