Dubai gold prices steady after dropping $60 in a month
Dubai gold prices were playing absolutely no-thing for the last morning in the running world whereas worldwide bullion dealings reported movement up and down in light of those continuous geopolitical altercations continuing around over-over-on cold ground.
And the price of 24K Gold was at Dh489. 25 per gram, staying near the previous session. The precious metal is down by about Dh60 per gram in the last month, despite the general stabilization in trading. All other gold types stayed stable, with 22K tagging Dh453. 00, 21K at Dh434. 50, 18K at Dh372. 25, and 14K at Dh290. 50 per gram. Meanwhile in the global market spot gold was priced at $4,060/ounce and silver fell 0.28 percent to $59.84 an ounce.
Key Factors Influencing Gold Prices
Gold prices continue to be driven by several economic and geopolitical factors, say market analysts.
Key highlights:
24K gold: Dh489.25 per gram
22K gold: Dh453.00 per gram
21K gold: Dh434.50 per gram
18K gold: Dh372.25 per gram
14K gold: Dh290.50 per gram
Spot gold: $4,060 per ounce
Silver: $59.84 per ounce
Market Bogs Down On Weak Demand & Global Uncertainty
The ongoing weakness was blamed, also in the context of perennially uncertainty over US Federal Reserve monetary policy, on waning hopes for a comprehensive resolution of tensions in the Middle East, according to Simon-Peter Massabni head of business development.
He also pointed to signs of constrained investor inflows to big physical gold ETFs in recent days and weaker consumer demand for gold, both weighing on price. Geopolitically, however, uncertainty lingers as talks between the United States and Iran have broken down into discord -- a sentiment that has added to careful back-to-back nerves across monetary business sectors.
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