Gold prices recover in Dubai in early trade
Gold prices during early trade in Dubai bounced back on Tuesday after seeing a steep drop of over Dh11 per gram during the last trading session. The rebound comes as investors watch developments in global geopolitics and upcoming American economic data closely.
Gold Rates Rise Across All Major Categories
The prices of 24-K gold peaked at Dh544. Dh25 per gram compared to Dh539. 75 per gram during the Monday market close.
Meanwhile, 22K gold slipped back above the Dh500 level, priced at Dh504. 00 per gram in early trade.
Latest Gold Prices in Dubai
24K Gold: Dh544.25 per gram
22K Gold: Dh504.00 per gram
21K Gold: Dh483.25 per gram
18K Gold: Dh414.25 per gram
14K Gold: Dh323.00 per gram
Global Precious Metals Market
Gold prices also gained strength in international markets.
Market Highlights
Spot gold traded at $4,517 per ounce
Gold rose by 0.9%
Silver increased by 1%, reaching $75.8 per ounce
The rise in precious metal prices reflects continued investor interest in safe-haven assets amid global uncertainty.
Investors Monitor Geopolitical Developments
Market players are evaluating the news of a partial ceasefire which has been announced by Hezbollah and Israel, since it could lower tensions in this part of the world.
Meanwhile, investors are eyeing fresh developments for US-Iran talks as well, while inflation and monetary policy front policies also continue to weigh on market sentiment.
Focus on Key US Economic Data
Data due out this week from the U.S. will also be closely watched by investors.
Key Reports to Watch
US Non-Farm Payrolls (NFP) data
US Employment Report
Labour market performance indicators
Inflation-related economic signals
These reports are likely to be key indicators of the resilience of the US economy and hence will set gold and silver prices in motion as well.
With geopolitical developments and economic data driving market sentiment, gold traders will be closely monitoring global events in the coming days.
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