GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >>

 
  Share

As the US dollar continues to hold strong in international markets, gold prices fall as investors search out safe bets elsewhere. As the week started, UAE 24-karat gold fell from Dh147.25 per gram to Dh146.75 per gram as Monday played out. You can check the live rates on business24-7.ae

 

Other karats are also available at bargain prices -  22K at Dh137.75, 21K gold at Dh131.50 and 18K gold at Dh112.75 per gram. You will be able to buy those kind of gold online on business24-7.ae

 

Vijay Valecha of Century Financial has been watching the situation carefully. “Gold prices weakened for the start of this week as rising interest rates and a strong bull market in global equities signals that there are better avenues for investment,” he said. In the UAE, Valecha expects the price of 24K to move between Dh145 and Dh149 per gram.

 

When asked to speculate on the reasons behind these circumstances, Valecha pointed to a bull equities market and rising interest rates among the forces pushing investors to other assets.

 

Valecha also reminded investors to bare in mind that August and September, as well as the other remaining months of the year, are traditionally strong months for gold and other precious metals, highlighting an historical rise of  4.1% on average.

 

In the short term, however, Valecha reckoned that spot prices would vary between $1,205 and $1,220 an ounce for the day, while later in the week, prices could range in the $1,195 to $1,235 zone.

 

 



Posted by : GoDubai Editorial Team
Viewed 18208 times
Posted on : Thursday, September 6, 2018  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : FDI flow in to Bangladesh jumps 22.52% last year to US$2.45 billion that prompts UAE businesses to i...
Next Story : Al Ansari Exchange announces the fifth millionaire of ‘Al Ansari Exchange Rewards – Summer Promotion...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Drops of Youth
Modern Classics: Michael Kors Unveils Spring 2020 Michael Kors Collection Ad Campaign
Eberhard & Co. Traversetolo Vitre in blue dial makes stunning impact
Go Neutral with Palladio Beauty
Parmigiani Fleurier welcomes Amanda Lui to its Friends of the Brand family
Valentine's Gifts to Fall in Love With
Reveal Your Cosmic Beauty With These Gift Sets From Wet n Wild
The Tag Heuer Autavia
Corum Admiral's Cup Legend 47 Worldtimer'
Start the Year with Gorgeous Glowing Skin with a Little Help from DERMAdoctor
Regulator at pole position
Parmigiani Fleurier creates horological history with world's first wristwatch wi...
5 super reasons why the HUAWEI Mate 30 Pro is the king of 5G smartphones we've a...
UAE Team Emirates Unveil New 2020 Team Jersey
SUBWAY® commemorates 2020 with enhanced customer experiences
Dubai Jewellers Expect a Steady Sale During the 25th Dubai Shopping Festival Pro...
Malabar Gold & Diamonds - New Store opened in Kanpur, UP, India
The Winter Youth Olympic Games Lausanne 2020
OMEGA Ready to Time The Winter Youth Olympic Games Lausanne 2020
Kanz Jewels proves to be a lucky destination for jewellery shoppers during DSF 2020.
The Largest LEGO® Festival the Middle East Has Ever Seen Kicks OFF at Dubai Fest...
Diabetes Friends Association Trains Schools Nurses on Innovative Methods to Prot...
Huawei brings the king of 5G smartphones- HUAWEI Mate 30 Pro 5G to the UAE
Karl Lagerfeld - S/S 2020 Urban Cycle
Former United Nations Secretary-General Ban Ki-moon delivers keynote speech at i...
Danube Properties completes Dh300 million ‘Royal Magical' Resortz project
Go Bold with Blue from 2XL Furniture & Home Décor'
Eberhard & Co. Gilda timepiece makes an extraordinary Valentine's Day gift
Show your Support for Australia alongside THT – That Hair Tho
Kia Motors Corporation MEA appoints Memac Ogilvy for PR partnership in MEA region
Valentine's Day Fashion and Gifting - Steve Madden
Celebration in Bahrain for Aga Khan Award Laureate “Revitalisation of Muharraq”
It's a new dawn, it's a new day, it's a new life, and I'm FELINE good
Corum And Joachim Horsley Light Up The Folies Bergère
Drive home more than just a car: Juma Al Majid offers value deals on new Hyundai...
ADNEC to Host the World Future Energy Summit 2020
OSN; The Only Place to Watch Golden Globe Winning and Nominated Content in the M...
Seha Leads Discussions in Pediatric Medicine
Fashion and Gifting for Valentine's Day - ECCO
Schools from across the UAE to battle it out at Credence High School's annual Qu...
EEC Engie Deploys Schneider Electric's New Medium Voltage SF6-Free Switchgear Te...
Why Video Surveillance Is Great for Retailers & Consumers
The Data Center Market in 2020: What to Expect
In Giant Leap Forward, Virgin Hyperloop One Announces Technology Can Be Powered ...
Spice It Up With Szechuan! Shake Shack is Celebrating the Chinese New Year With ...
Marks & Spencer Welcomes Spring with its Midi Dress Edit
Etihad Guest Programme Welcomes Gulf Air as New Airline Partner
Emiratis deepen their love for falconry
Etihad Airways and Easyjet Enter Into New Partnership
Daiso participates in DSF 2020 with a showcase of over 800 new products!