UAE

Life and Living

World

Opinion

Business

Sports

Entertainment

Lifestyle

Travel

Reviews

Brands

Supplements

KT Events

KT APPDOWNLOAD

Type your keywords

Dubai: Gold prices steady in early trade, look for direction

Globally, spot gold was steady at $2,623.16 per ounce, up 0.04 per cent

Read more...
KT Photo: Shihab
by

Waheed Abbas

Published: Mon 30 Dec 2024, 9:49 AM

Gold prices were steady in Dubai at the market's opening on the first trading day of the week.

At 9 am UAE time, prices of the 24-carat and 22-carat variants of the precious metal were unchanged at Dh317.5 and Dh294 per gram, respectively. In early trade on Monday, 21 carat was trading at Dh284.5 and 18 carat at Dh244 per gram.

Advertising
Advertising

Globally, spot gold was steady at $2,623.16 per ounce, up 0.04 per cent.

Stay up to date with the latest news. Follow KT on WhatsApp Channels.

[Editor's Note: For real-time gold rates, click widget below or visit KT's dedicated Trading News page here.]

-->

Yellow metal prices edged higher earlier in the day as investors were looking forward to the US Federal Reserve’s interest rates outlook and Donald Trump’s policies around tariffs. Markets expect a major shift in policies when Trump comes into power, especially around tax changes and tariffs.

Industry executives believe that these factors will determine the direction of the precious metal in the coming months.

Rashad Hajiyev, founder and senior analyst at RM Capital, said gold continues to struggle in the last days of the year and is finishing 2024 up around 27 per cent.

Kelvin Wong, senior market analyst for Asia Pacific at Oanda, said geopolitical tensions have been a major factor in yellow metal’s uptrend this year and will continue to play a role in 2025 as well, mainly due to Trump coming into power.

ALSO READ:

Waheed Abbas

Published: Mon 30 Dec 2024, 9:49 AM

Recommended for you