Dubai PR Network, Online Press Release from Dubai and Middle East
 
Business, Banking and Investments(Banking & Investments)
Filter PR by
  
New drops mean more good news for gold investors
 

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 : DubaiPRNetwork.com Editorial Team
Viewed 20295 times
PR Category : Banking & Investments
Posted on : Thursday, September 6, 2018  6:16:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : FDI flow in to Bangladesh jumps 22.52% last year to US$2.45 ...
Next Story : Al Ansari Exchange announces the fifth millionaire of ‘Al An...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Malabar Gold & Diamonds Inaugurates 2 New Showrooms in Bengaluru and Andhra Pradesh, India [5162-Views]
Abu Dhabi Distribution Company Partners with Carrefour to Expand Green Corner Initiative [3624-Views]
Etihad Rail to Outline the Roadmap for Transforming the Transportation & Logistics industr... [3411-Views]
Sharjah-Europe Businesswomen Forum Concludes with Fruitful Regional and international Part... [3206-Views]
Johns Hopkins Medicine International and Clemenceau Medical Center Hospital Dubai Launch N... [3194-Views]
New Range Rover Sport Revealed with Epic Spillway Climb [3132-Views]
250,000 Visitors Flock to Dubai Parks during Eid Holidays [3067-Views]
Global Leaders and Industry Experts Convene for Day Two of the World Utilities Congress [2993-Views]
Global Village Awards Ceremony Highlights Partners' Contribution to a Successful Season [2972-Views]
POCO Reaches New Heights with the Apex Flagship POCO F4 GT [2895-Views]
Dubai Airports makes Final Arrangements ahead of Northern Runway Closure [2833-Views]
Fifteen-Year-Old Student Wins Water Alliance RE-NEW Our World Challenge with Project Aimed... [2747-Views]
Lenovo Unveils New Yoga PCs to Empower Consumers to do more, their way [2731-Views]
Feel Fit & Fabulous with India Gate's Health Range [2714-Views]
Zoho Announces New Unified Marketing Platform for Businesses to Deliver Improved Customer ... [2698-Views]
Deloitte 2022 Government Trends Report Identifies Resilience, Connectivity, and Inclusion ... [2665-Views]
Lumenore Appoints a New EMEA Sales Director [2649-Views]
Mohamed Henedy at SCRF 2022: I Owe my Success to Children [2608-Views]
A Quick Guide to Alleviating the Burden of Daily Clothing Care With Samsung's New Bespoke ... [2583-Views]
Fashinza to Empower Apparel Manufacturing SMEs with AED 55 Million Supplier-Financing Prog... [2554-Views]
MENA District Cooling Projects Conference 2022 to Explore US$15 Billion Opportunities [2476-Views]
Hydrogen to Play a Key Role in Decarbonisation of the Utilities Sector [2407-Views]
Shurooq Captures Imaginations at Arabian Travel Market; Announces Eco retreats Najd Al Meq... [2370-Views]
Airlines to Focus on Efficiency and Sustainability [2366-Views]
St. George's University, Grenada, in association with Ramaiah Group of Institutions [2276-Views]
 
RSS Facebook Twitter LinkedDin DubaiPRNetwork.com on Instagram
 
Top Sections
 
Top Stories