Search DubaiPRNetwork.com

Home >> Banking & Investments

New drops mean more good news for gold investors

Thursday, September 6, 2018/ Editor -  

Share

Home >> Banking & Investments

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.

 

 


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

GEMS Education schools partner with Dubai Cares to raise AED 500,000 for charity

Joyalukkas Exchange opens branches in 3 new locations in Kuwait

METROPOLITAN INSIGNIA CLUTCH Fall Winter 2019 Evening Collection

Child Obesity and Plastic Pollution, How Parents and Schools can Fight Both Ba ...

Le Confort, The New Footwear Trend in the Middle East

ADU celebrates another year of success following 2020 QS World University Rankin ...

Sneaky Ways to Keep Your Kids Learning at Home

du Transforms 5G Experience with Middle East's First Video Call Over LTE & 5G

Etihad Airways Prepares to Launch Seasonal Flights to Alexandria, Egypt

Malabar Gold & Diamonds launched their new Diamond Jewellery collection named ‘D ...

Dubai Customs honors top performers in 3rd monthly client recognition ceremony

Shop. Win. Cruise. At Deerfields Mall this Summer

Dubai Tourism Launches Hotel Emission Analysis Report

2XL Furniture & Home Décor Announces Opening of the Revamped 2XL Store in Uptow ...

Young UAE Karting Star Rashid Al Dhaheri Achieves podium finish in Lonato, Italy

Star Alliance members, Turkish Airlines and LOT Polish Airlines expanded their c ...

MOTIONGATE™ Dubai launches attractive Summer Pass for UAE residents

Witness an all-new PJ Masks show at Kids Rock Festival for the first time ever i ...

Search is on for “voices of Future Generations” Highlighting Children's Rights a ...

Ras Al Khaimah seeks to educate its youth through Artificial Intelligence projec ...