Gold rose for a third straight session on Wednesday as weaker than expected US data weighed on the dollar ahead of the Federal Reserve’s monetary policy decision later in the day. The Fed is likely to keep interest rates steady, with focus resting
Gold seems to have run out of steam this week, with retail prices inching down slightly in Dubai on Tuesday despite a weaker US dollar and volatile stock markets. The price of 24-carat gold dropped by 50 fils to Dh149.75 per gram from a high of Dh150.25
Two hundred companies from 17 countries will take part in an exhibition on iron and metal industries, which will open in Riyadh on May 1. Saudi Industrial Property Authority (MODON) Director General Saleh Al-Rasheed will inaugurate the event, Usama
Silver climbed to a 10-month high, leading gains in precious metals, as the oil market stabilised and top forecasters said gold will extend this year’s advance. Silver jumped as much as 3.2 per cent to $16.7398 an ounce, reaching the highest since June.
China, the world’s biggest producer and consumer of gold, started a twice-daily price fixing on Tuesday in an attempt to establish a regional benchmark and bolster its influence in the global market. The Shanghai Gold Exchange set the price at 256.92
Gold advanced for a second day as turmoil across oil markets increased demand for a safe haven. Bullion for immediate delivery climbed as much as 0.5 per cent to $1,240.14 (Dh4,555) an ounce and traded at $1,239.05 at 11.07am in London, according to
The price of gold fell from the previous day’s three-week peak on Wednesday as the dollar surged to a two-week high against the euro, and European share prices jumped after upbeat Chinese trade data allayed concerns over its economy. Silver defied
The precious metal started the week on a higher note with retail prices in Dubai posting a Dh2 per gram increase on Sunday. There have been expectations that the precious metal could post further increases this week due to rising stock market volatility