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Dubai: 24K gold likely to trade between Dh221 and Dh230

Dubai: 24K gold likely to trade between Dh221 and Dh230 Reuters Gold unlikely to see significant downside this week, say commodity analysts Gold prices are expected to trade in range-bound over the next two months hovering between $1,675 and $1,900 per ounce, according to commodity analysts. Spot gold price last closed at $1,787.53 per ounce, up 0.66 per cent. In the UAE, the Dubai Gold and Jewellery Group data showed 24K trading at Dh216.5 per gram, 22K at Dh203.25, 21K at Dh194.0 and 18K at Dh166.25 on Sunday morning, The precious metal s prices have been looking towards the US Federal Reserve over the last few weeks concerning its monetary policy.

Gold prices likely to gain this week on US hiking capital gains tax

Gold prices likely to gain this week on US hiking capital gains tax Waheed Abbas/Dubai Photo: Wam Dubai gold could gain Dh5 a gram this week; 24K may touch Dh220. Analysts are bullish about gold prices this week, expecting US President Joe Biden to propose raising capital gain tax in the world’s largest economy which will give fillip to the precious metal. In Dubai, it is expected that the yellow metal could gain as much as Dh5 per gram this week. On Friday, 24K retail price in Dubai stood at Dh215.25 per gram, 22K at Dh202.25, 21K at Dh193.0, and 18K at Dh165.25, according to Dubai Gold and Jewellery Group data.

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