Move comes 4 years after the brand was banned from India as a part a wider crackdown on some Chinese apps following border conflicts
Gold prices dipped at the opening of the markets in Dubai on Tuesday.
The Dubai Jewellery Group data showed 24K trading at Dh281.75 per gram at 9am on Tuesday, down Dh0.25 per gram. Among the other variants, 22K, 21K and 18K opened at Dh261.0, Dh252.5 and Dh216.5 per gram, respectively.
Globally, gold was trading at $2,326.78 per ounce, down 0.23 per cent, at 9.10am UAE time.
Stay up to date with the latest news. Follow KT on WhatsApp Channels.
Daniel Takieddine, CEO for Mena at BDSwiss, said gold traded sideways due to the uncertainties surrounding the US Federal Reserve’s future interest rate decisions.
“Key US inflation data from May indicated a slowdown, supporting expectations that the Fed might implement rate cuts twice this year. However, opposition from several influential FOMC members remains,” he said.
Takieddine continued: “At the same time, political uncertainty in the US and Europe could continue to support gold. The recent debate between President Joe Biden and his Republican opponent, Donald Trump, increased political uncertainty and could support demand for gold. Additionally, the French parliamentary elections have added to the uncertainty about the far-right party’s potential to steer French policies and could affect gold prices as investors look forward to the second round of votes.”
ALSO READ:
Move comes 4 years after the brand was banned from India as a part a wider crackdown on some Chinese apps following border conflicts
Whether an activity is ancillary or not would depend on case-to-case basis and would primarily depend on the main activity
The deal will help BitOasis strengthen its position in the region and enhance its services.
Successful innovation efforts focus on supporting sustainability initiatives and uplifting marginalized communities
Lakshmi Narayanan honoured as Freeman of the City of London at Global Wealth Conference 2024
Russian economy weathers sanctions; the revenue accounts for a third of Russian budget proceedings
Higher supply from Nigeria and Iran offset the impact of voluntary supply cuts by other members and the wider Opec+ alliance
Investors await minutes of the Fed's last policy meeting for further cues on the central bank's interest rate cut path