emirates7 -
-US dollar index rose following strong employment report, making greenback-priced metals more expensive for other currency holders
Gold prices were steady, trading close to Dh610 per gram at the opening of the markets in Dubai on Thursday morning.
At 9am UAE time, the 24K gold price was trading at Dh610.75 per gram, slightly up from last night’s close. Among the other variants of precious metal, 22K, 21K, 18K and 14K were trading at Dh565.5, Dh542.25, Dh464.75 and Dh362.5 per gram, respectively.
Spot gold was trading at $5,077.55 per ounce, remaining unchanged at around 9.10 am UAE time as the US dollar firmed.
High gold prices continue to dent jewellery sales in the UAE and other major markets.
Jewellers in Dubai said shoppers are shifting to smaller-sized ornaments and diamond-studded jewellery due to the affordability factor.
UAE residents sold their precious metal assets in panic earlier this month when prices plunged nearly five per cent in a very short span of time. But prices have recovered since then, and 24K gold is trading above Dh600 per gram.
On Thursday morning, the US dollar index rose, building on Wednesday's rally following the surprisingly strong employment report that suggested underlying US economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.
Vija Valecha, chief investment officer for Century Financial, said the EUR/USD pair remains well supported above the 9-SMA level on the daily and weekly charts, suggesting its strong market structure at the moment.
-US dollar index rose following strong employment report, making greenback-priced metals more expensive for other currency holders
Gold prices were steady, trading close to Dh610 per gram at the opening of the markets in Dubai on Thursday morning.
At 9am UAE time, the 24K gold price was trading at Dh610.75 per gram, slightly up from last night’s close. Among the other variants of precious metal, 22K, 21K, 18K and 14K were trading at Dh565.5, Dh542.25, Dh464.75 and Dh362.5 per gram, respectively.
Spot gold was trading at $5,077.55 per ounce, remaining unchanged at around 9.10 am UAE time as the US dollar firmed.
High gold prices continue to dent jewellery sales in the UAE and other major markets.
Jewellers in Dubai said shoppers are shifting to smaller-sized ornaments and diamond-studded jewellery due to the affordability factor.
UAE residents sold their precious metal assets in panic earlier this month when prices plunged nearly five per cent in a very short span of time. But prices have recovered since then, and 24K gold is trading above Dh600 per gram.
On Thursday morning, the US dollar index rose, building on Wednesday's rally following the surprisingly strong employment report that suggested underlying US economic health. A stronger dollar makes greenback-priced metals more expensive for other currency holders.
Vija Valecha, chief investment officer for Century Financial, said the EUR/USD pair remains well supported above the 9-SMA level on the daily and weekly charts, suggesting its strong market structure at the moment.
الرجاء الانتظار ...