Rates in the northern emirates are nearly half the cost of plans in Dubai and Abu Dhabi
health3 hours ago
Gold prices fell on Tuesday after opening higher earlier in the day.
Spot gold fell 0.27 per cent to $1,819.03 per ounce, down by 0.27 per cent at 9.40am UAE time.
The precious metal prices had hit a two-and-a-half month high last week following disappointing US non-farm payrolls data. A strong jobs recovery is seen as crucial for the US Federal Reserve to start withdrawing its stimulus measures.
In the UAE, 24K fell to Dh220.5 per gram at the opening of the market on Tuesday. Meanwhile, 22K, 21K and 18K fell Dh207.25, Dh197.75 and Dh169.5 per gram, respectively.
Naeem Aslam, chief market analyst at AVA Trade, said the yellow metal is performing well after last week’s job report.
“The weak economic report raised expectations that the US Federal Reserve would likely delay tapering of its stimulus and hence postpone its timeline for raising interest rates as well. Because of this situation, the US dollar has been depreciating against a basket of currencies,” said Aslam.
With the eurozone economy roaring back to life, the European Central Bank will also debate a cut in its stimulus on Thursday, beginning a hard-fought and lengthy discussion on how to dismantle the crisis-fighting measures that have kept the bloc afloat.
waheedabbas@khaleejtimes.com
Rates in the northern emirates are nearly half the cost of plans in Dubai and Abu Dhabi
health3 hours ago
A meal with a Burj Khalifa view? Absolutely
restaurant reviews3 hours ago
Twin-to-Twin Transfusion Syndrome is a condition where one baby receives too much blood while the other gets too little
health3 hours ago
Palm West beachside outlet at Palm Jumeirah has three bars
lifestyle3 hours ago
The company’s portfolio is led by CBB-120 for a range of solid tumour cancers
business3 hours ago
Bejjani addressed the evolving landscape of corporate sustainability at Sharjah Asset Management forum
business3 hours ago
Since its inception, ASK KUBEIR has assisted over 10,000 clients
business3 hours ago
Fourteen teams battled it out at Yas Links, with Indian cricket legend Yuvraj Singh making a strong impression
sports3 hours ago