Gold moved lower when it was pressured by a stronger U.S. dollar during European trading hours, although bargain hunting provided some support due to buying on dips, said MKS Finance in a research note.
“In the meantime, holdings in ETFs (exchange-traded funds) gained 238,674 ounces to a record high of 70.76 million, suggesting investors’ keen outlook on the metal,” MKS added.
The mid-week tumbles in prices a “healthy correction rather than the end of the bull run.” Large physical bids were still present during overnight Asian hours, MKS continued.
Dh15.4bn budget for Government of Sharjah
His Highness Dr. Sheikh Sultan bin Mohammed Al Qasimi, Supreme Council Member and Ruler of Sharjah, has approved the general budget of the Government of Sharjah, which translates his strategic vision