The first centre will bring together academic researchers and practitioners from the private sector to develop and share best practices in responsible AI
business1 day ago
Gold prices continued their upward trend at the opening of the markets in Dubai on Tuesday as the global spot rate surpassed $2,100 an ounce late on Monday.
The Dubai Jewellery Group data showed 24K trading at Dh256.25 per gram while 22K, 21K and 18K opened at Dh237.25, Dh229.5 and Dh196.75 per gram, respectively.
Spot gold was up 0.06 per cent at $2,116.1 per ounce as of 9.15 am UAE time, reaching nearly a month high.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Gold surged by about $50 over last week, driven by tepid US manufacturing and construction spending and a reduction in price pressures.
The precious metal could easily push above the record highs, said Phillip Streible, chief market strategist at Blue Line Futures in Chicago.
"(Fed Chair Jerome) Powell speaks two times this week, and he could come out and be a bit more dovish... we could see a miss on the (US) jobs data on Friday," all factors that will help gold, Streible added.
Markets are currently pricing at a 71 percent chance of a Fed rate cut in June, according to the CME Fed Watch Tool.
ALSO READ:
The first centre will bring together academic researchers and practitioners from the private sector to develop and share best practices in responsible AI
business1 day ago
The UAE has already signed CEPA with major trading partners such as India, Israel, Chile, Colombia, Turkey, Indonesia, Georgia and Cambodia
business1 day ago
New developments hold key to the future of work, expert says
business1 day ago
A year-on-year (YoY) increase of 20.2 per cent, or Dh135 billion, was recorded
business1 day ago
Course offers training in English language, interviewing skills, resume writing, and job search tips
business2 days ago
One of the key areas of focus under the MoU is marketing and promotion
business2 days ago
Sector increasingly intertwined with high-value investments
business2 days ago
Policyholders can get coverage limits of Dh25,000 or Dh50,000 for a 12-month term
business2 days ago