Dubai: 24K gold price rises to Dh228.25 per gram
Photo: AFP
The highest price for precious yellow metal in 4 months over a weaker dollar and lower US Treasury yield.
Gold prices edged up on Monday morning, hovering near their highest in more than four months, as a weaker dollar and pullback in US Treasury yields supported the safe-haven metal.
Spot gold was up 0.27 per cent or $5.07 at $1,885.62 per ounce by 9.15am UAE time.
Last week, gold prices hit their highest level since January 8 at $1,889.75.
In the UAE, 24K gold prices jumped Dh1, rising from Dh227.25 per gram from its previous close to Dh228.25 on Monday morning. Meanwhile, 22K, 21K, and 18K also rose to Dh214.25, Dh204.5, and Dh175.25 per gram, respectively.
Dubai: 24K gold price set to rise to Dh230 this week
Waheed Abbas/Dubai
Globally, the precious yellow metal can hit $1,930, as inflows into ETFs continue
The rally in gold prices is expected to continue this week and the precious metal could hit $1,930 an ounce as inflows into gold exchange-traded funds (ETFs) is likely to continue.
Spot gold price last closed at $1,881.96 an ounce, up 0.42 per cent or $7.86 an ounce. The precious metal has gained five per cent, or $90 an ounce in the past 30 days.
Dubai Gold and Jewellery Group data showed 24K retail price last closed at Dh227.25 per gram.
UAE: 24K Gold Price Expected to Hit $1,930 This Week albawaba.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from albawaba.com Daily Mail and Mail on Sunday newspapers.
Dubai gold prices jump by Dh2, likely to touch Dh227 this week khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.