Summary
As investors anxiously await crucial US inflation statistics for clues as to how near interest rates are to peaking, gold prices rose on Wednesday.
What is the price of 24 carat gold in Dubai
As of 9.30 AM UAE time, spot gold was up 0.7% at $2,018.93 per ounce. The price of US gold futures increased 0.7% to $2,032.40.
When compared to Tuesday night’s close of Dh242.5 per gram, the price of 24K gold in the UAE increased by more than two dirhams on Wednesday morning to Dh244.75 per gramme. In contrast, the prices for 22K, 21K, and 18K were Dh226.5, Dh219.25, and Dh188.0 per gram, respectively.
For hints on the Federal Reserve’s rate hike trajectory, everyone is waiting for the US consumer price index (CPI) data, which is due at 4.30 pm UAE time.
gold may move higher in the future.
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